The latest report from the Australian Bankers’ Association (ABA) reveals a significant shift in consumer behavior towards digital banking, marked by a surge in mobile wallet usage. In the past year alone, Australians made over four billion payments through mobile wallets, a staggering increase compared to just 353 million ATM cash withdrawals, which collectively amounted to A$106 billion.

Digital banking interactions have risen by 70% since 2019, while the overall value of mobile payments has experienced a remarkable 23-fold increase during the same period. Notably, the last year recorded a 28% increase in mobile payment activity. This trend has led mobile wallet transactions to surpass ATM withdrawals for the first time in 2023, signaling a profound change in payment preferences among Australian consumers.

Consumer Demand for Speed and Convenience

According to ABA chief Anna Bligh, these statistics underscore the public’s growing demand for speed and convenience in banking. “We are undergoing a massive transformation in how people bank in this country,” Bligh stated. “Making payments with your phone is also now the norm for millions of customers.” She emphasized that mobile wallet usage continues to gain traction, rapidly approaching the level of traditional cash and card transactions.

Despite this clear preference for digital channels, Bligh maintains that there remains a crucial role for cash in the banking landscape. “Digital is now the norm, yet banks continue to invest in face-to-face banking options for Australians who want to use them,” she noted. “Australia’s banks maintain a denser commercial branch network than comparably urbanised OECD peers,” emphasizing the need for a balanced approach to banking services.

Calls for Regulation in the Mobile Wallet Market

The ABA’s report arrives six months after the organization advocated for regulatory measures concerning the rapidly expanding mobile wallet market in Australia. In February, Bligh remarked, “With mobile wallets becoming a dominant force in Australia’s payments architecture, it’s only fair that global tech companies are subject to the same oversight and consumer protection laws as the rest of the payments system.”

This push for regulation reflects the growing significance of mobile wallets in the nation’s payment ecosystem. As Australians increasingly embrace digital banking, the ABA is keen to ensure that consumer protections keep pace with technological advancements. With the current trajectory of mobile banking, the landscape of financial transactions in Australia is set to undergo further transformation in the coming years.

The Scottish Government has announced an investment of £5 million aimed at improving pay for frontline staff in independent hospices. This funding, detailed in the 2025-26 Budget, is intended to align hospice salaries with those of the National Health Service (NHS), recognizing the essential palliative and end-of-life care these facilities provide.

The initiative seeks to attract and retain skilled healthcare professionals as demand for palliative care services continues to rise amid increasing workforce pressures. Scottish Labour previously urged the government to allocate funds to support hospice workers, emphasizing the importance of fair compensation for their dedicated service.

Health Secretary Neil Gray expressed his support for the funding, stating, “Independent hospices provide vital care and support to people and families across Scotland at the most difficult times in their lives. I am pleased we are able to support these organizations in supporting pay parity for their clinical staff.” He highlighted the necessity of recognizing the compassionate care provided by hospice staff daily, ensuring their pay reflects the value of their work.

Despite the positive step, concerns have emerged regarding the sufficiency of the £5 million funding. Marie Curie Scotland, a prominent hospice provider with two facilities in the country, voiced skepticism about the impact of this one-time funding boost. Amy Dalrymple, associate director of policy and public affairs at Marie Curie, noted that while the funding is welcomed, it will not resolve the long-term financial challenges facing hospices.

“Investment in hospice staff is essential. There is only one chance to get end-of-life care right,” Dalrymple stated. She also highlighted the anticipated costs associated with the UK Government’s increased employer national insurance contributions, which are expected to cost Marie Curie Scotland close to £500,000 in the 2025-26 fiscal year alone.

Dalrymple advocated for a sustainable, long-term funding strategy from the Scottish Government that addresses the inequalities in end-of-life care. “We are calling on the Scottish Government to deliver a sustainable, long-term funding plan that includes ways to future-proof the workforce, so that wherever you live, whatever your illness, you’ll be able to rely on good care right to the end,” she added.

In November 2024, hospice leaders expressed alarm over a growing “insurmountable funding gap,” warning that they might have to turn people away due to insufficient resources. They emphasized the essential role hospices play within the broader health care system, despite not being part of the NHS, and the reliance on charitable funding to meet operating costs.

Chair of the Scottish Hospice Leadership Group, Jacki Smart, welcomed the funding as a necessary acknowledgment of the hospice sector’s needs, which delivers specialized palliative care throughout Scotland. “It is right for patients and staff that hospices can pay skilled professionals fairly and in line with NHS colleagues, and we need to keep pace on this,” she stated.

This announcement follows a recent initiative by the UK Government, which unveiled a £75 million funding package to be distributed among 170 facilities in England. This funding boost is considered the largest ever for the sector, aiming to improve care services across the region. Minister Stephen Kinnock praised the impact of hospices, stating, “Hospices play a vital role in our society by providing invaluable care and support when people need it most.”

As the landscape of palliative care evolves, the Scottish Government’s commitment to hospice funding represents a significant, albeit initial, step toward addressing the pressing needs of healthcare providers and the individuals they serve.

The North East of England is set to enhance its employment landscape with the introduction of the New Deal for North East Workers. This initiative aims to address the region’s low pay issues while curbing the trend of young people relocating to cities like London for better job prospects. The strategy is designed to stimulate economic growth and improve opportunities for local residents.

Mayor Kim McGuinness expressed optimism that the new strategy would create sustainable job opportunities, allowing young people to thrive in their home region rather than feeling compelled to move away. “We want young people to know they don’t have to leave the region and go to London for success,” McGuinness stated during a recent meeting of the NECA cabinet. “There are many opportunities right here on their doorstep.”

Addressing Economic Challenges

The North East has been grappling with notable challenges, including high rates of economic inactivity and youth unemployment. Recent data indicates a worrying rise in inactivity attributed to health conditions, compounded by a significant portion of the workforce engaged in low-paid and insecure jobs. A report presented to the NECA cabinet highlighted that many businesses struggle to find skilled local talent, which adversely affects regional growth.

To combat these issues, the New Deal identifies key sectors for growth, including offshore wind, AI, and the creative industries. The plan encompasses initiatives aimed at enhancing skill sets among residents, improving employment rates, and providing essential services such as affordable childcare and better public transport. These measures are intended to dismantle the barriers preventing individuals from entering the workforce.

Collaborative Efforts and Future Goals

The policies outlined in the New Deal were crafted in collaboration with local employers and educational institutions. This initiative aligns with the UK Government’s Get Britain Working agenda, which seeks to stimulate job creation and reduce unemployment across the country.

The cabinet unanimously endorsed the strategy, marking a significant step towards revitalizing the local economy. The initiative is expected to be formally launched in autumn 2024. McGuinness emphasized the importance of creating a thriving job market, stating, “A healthy society relies on people going to work, but far too many people don’t have a job – or don’t have a job they want.”

The New Deal for North East Workers has four key priorities: building a larger, better-skilled, and more diverse workforce; creating clear career pathways for employers; providing targeted support to enhance employment rates; and addressing the obstacles that hinder residents from securing jobs.

With these ambitious goals in place, the North East is positioning itself as a promising landscape for both workers and employers. The initiative could lead to a transformative shift in the region’s economic outlook, fostering an environment where local talent can flourish without the need to migrate for success.

Clear Junction has introduced a new service enabling clients to send, receive, and convert stablecoins. Initially, this offering supports USDC (Circle) and USDT (Tether) across prominent blockchain networks, including Ethereum, Solana, and Tron. This development aims to meet the increasing demand from businesses for secure access to blockchain-based payment solutions.

The launch positions Clear Junction to cater to a diverse range of clients, from cryptocurrency exchanges and fintech companies to regulated e-money institutions (EMIs) and remittance providers. The service is already operational and has been adopted by several clients, facilitating blockchain-based transfers without the complexities often associated with cryptocurrency settlement.

Dima Kats, CEO and founder of Clear Junction, noted the evolution of stablecoins, stating, “We’ve seen stablecoins move from speculative tools to genuine settlement infrastructure, and clients want that optionality.” He emphasized the growing need for the speed and transparency of blockchain, combined with the confidence and compliance of traditional finance. “That’s exactly what we’re building to meet real-world demand, and this feature launch is the foundation of a much bigger roadmap,” he added.

Expansion Plans and Future Developments

Looking ahead, Clear Junction is developing more advanced products, including tokenized settlement, custody solutions, and blockchain-based liquidity management. Kats highlighted the significant shift in financial services, asserting, “We’re entering a new phase of financial services where fiat and crypto will not compete but coexist.” He believes that the firm’s new on-chain capabilities provide clients with the necessary tools to operate confidently at the intersection of traditional and digital finance.

Clear Junction’s new service reflects a broader trend within the financial industry, where the integration of blockchain technology is becoming increasingly critical. Businesses are recognizing the advantages of stablecoins and blockchain-based solutions, particularly in terms of payment efficiency and security. As the demand for these services continues to grow, Clear Junction is positioning itself strategically to lead in this evolving landscape.