The Australian Payments landscape continues to evolve with new technologies, changing regulations, the rise of Fintech, and the introduction of a comprehensive new payments solution to Australia – the New Payments Platform (NPP) – which are all contributing to a shift in business and society’s expectations of where and how they can make and receive payments.

This evolution presents opportunities for organisations to attract and retain customers, improve efficiencies and innovate on traditional business models and revenue streams. There is potential to provide a ‘seamless’ customer experience, in which payment is an invisible part of the process.

KPMG supports our clients in responding to the changing nature of payments by helping to anticipate future challenges, capitalise on emerging opportunities, and innovate on product development. We also help our clients deliver on these opportunities.

How we can help

KPMG’s dedicated Payments Advisory team draws on deep experience to assist in key areas including:

• Payments strategy – Working with organisations to improve and optimise their product and channel strategy (e.g. mobile payments). We can help develop a strategy that aligns to current market conditions and considers the future, as well as identify potential sources of competitive advantage and investment approaches.
• Identifying commercial opportunities for payments products – We can map strategic industry ecosystems, analyse customer journeys and help to validate revenue and costs across payment events.
• New Payment Platform Advisory – We have led the way with coordinating major banks to work together to strategise and implement the NPP, through comprehensive program management and governance.
• Payments technology operations – Reviewing existing payments architecture and systems, and providing strategic investment and/or costing advice – in turn helping organisations respond to, or initiate, growth.
• Payment program delivery – Assisting organisations deliver payments transformation and remediation programs.
• Payments process, risk assessment and remediation – Assisting organisations in assessing their payments processes and risks, as well as improving these areas.

We work closely with all the leading Australian banks, countless corporates, federal and state governments, and are deeply connected to our global network of payments specialists.