Unlocking opportunities in the era of open data and payments

Under the government’s Digital Economy Strategy Australia is set to become “a leading digital economy and society by 2030”, with the Consumer Data Right (CDR) one of several initiatives designed to establish the right foundations to grow the digital economy.

Integrated data and technologies will make life easier for consumers and businesses, but enterprises face the challenges integrating legacy systems and infrastructure with real-time digital ecosystems. Cuscal can help enterprises bridge this gap, deploying new capabilities that support the collection, sharing, management and storage of consumer consent and CDR data. While our position at the centre of payments – as the leading provider of New Payment Platform (NPP) payment services to banks and payment service providers – means we are ideally positioned to help enterprises unlock new growth opportunities from the convergence of data and payment initiation services.

This white paper provides senior leaders and product owners with insights into some of the regulatory, technology, security and capabilities required to comply with the CDR today and how to unlock opportunities from the convergence of data and payments.

In this white paper you’ll learn more about:

• What the CDR is, how it has evolved and what future legislative change may mean for Data Holders in designated industries, as well as for accredited Data Recipients;
• How NPP capabilities are being enhanced and extended through the development of the PayTo service, supporting ‘write’ access for third party payment initiation from bank accounts in real-time, as envisaged under CDR;
• What enterprises should consider to enable data-centric strategies that integrate with the CDR and real-time payments, and how Cuscal capabilities and payment expertise can facilitate participation across ecosystems;
• Use cases demonstrating some of the ways in which the CDR and payment initiation can be applied to make life easier for consumers and businesses;
• How Cuscal is assisting clients participate in the CDR with access to a suite of secure and robust capabilities for the collection, sharing, management and storage of data subject to CDR legislation; and
• How Cuscal is enabling payment initiation services that are align with CDR and NPP PayTo frameworks for banks, payment service providers, fintechs and enterprises.

If you’d like to know more about how Cuscal can support your business participate in the CDR ecosystem and with real-time PayTo payment initiation, call 1300 650 501 or submit an enquiry.

Download the White Paper [PDF, 10 MB]