- The number of online payments is forecast to maintain its recent growth rate of 20 per cent and reach 31.4 billion globally in 2013, the World Payments Report, published by Capgemini, Royal Bank of Scotland and the European Financial Management & Marketing Association, predicts. The report projects that the number of payments using mobile devices will grow even faster, at 53 per cent a year.
- Barclays Capital has appointed Peter Young as chair of its Australian business, Dow Jones reports. Young was previously chair of ABN Amro Australia and a member of Royal Bank of Scotland's advisory board.
- ASIC said it banned Athol Halvorsen, a Sydney-based mortgage broker, from engaging in credit activities and from providing financial services for six years. ASIC said it found that that from 2005 to 2008, while working for Sydney Mortgage Market, Halvorsen acted as a broker for people seeking loans to invest in a financial scheme. It said Halvorsen submitted nine loan applications to either Perpetual Ltd or to St George Bank which contained information that was false and misleading about the income and employment of the borrowers
