As reported in the Sydney Morning Herald on Sat 21/10/23, payments on smartphones especially Iphones, accounted for more than a third of all card transactions in the June Quarter, according to the Reserve Bank Of Australia.

This process (payments using phones) is not favoured by the banks as this encroachment into the payment space has provided Apple with a small and growing income stream.

Most importantly for Apple, they have forged a closer relationship with their customers, which may lead to the opportunity to sell other products such as savings accounts for example.

Digital Wallets became popular during the Covid 19 Pandemic and are dominated by Apple and Google.

Consumers prefer the digial wallet option as it is convenient and more secure than using a card to make payments.

Google does not charge fees for its wallet but Apple does.

For more information , please make contact as follows:-


call- 0419762478

As reported in the Weekend Australian on September 9,Businesses across Australia were unable to accept card payments as a fintech outage left Square Terminals unusable.

One cafe in Sydney’s inner west, stated that about 150 customers had visited their cafe, with only a handful of clients having cash to pay for breakfast.
“This is the reason we changed from tyro to square a couple of years ago. We had similar problems with outages”, the business owner mentioned ” This is the fourth outage the cafe had faced with Square this year.

Were you impacted by this outage?

What steps have you taken to prevent this from harming your business in the future?

In this podcast, I discuss all things Business Payment Solutions:- With.

Also I discuss ways to save money on your business payment solutions

Are you transferring funds overseas and wanting to do so with no transfer fees and a competitive exchange rate?

Torfx are able to provide both even with a dedicated account manager for you to speak with.

Should you have any questions:-Please call 0419762478 or email

As a small business owner in 2023, you wouldn’t be mistaken for thinking the economic outlook was bleak. But adversity breeds opportunity.

This year, Australians are grappling with belt-tightening inflation, the likes of which we haven’t seen in three decades. How small business owners respond to soaring supply costs, continued staff shortages and customers with diminishing spending capacities will determine whether they survive or thrive.

Have you considered reducing your banking costs?

IT is often mentioned that COVID 19 changed our personal and business lives for ever.

COVID 19 sped up the process of consumer’s moving away from using cash for purchases.

I dont know if it is coincidence, but Australian Banks have closed over 700 branches from 2020 to 2023 (as reported in The Sydney Morning Herald Sat 21/1/23).

How will you seek help from your bank, if you cant visit them?

A cashless economy is closer to realty, according to the Australian Banking Association, which states that the number of people leaving home without their wallet and relying on their phone or another device to pay for goods or services has doubled in 3 years.

This is as reported in The Weekend Australian on May 13 2023.

According to the report from Australian Banking Association, consumers leaving their wallets and purses at home, has risen from 19% in 2019 to 38% in 2022.

Payments using methods other than cash are increasing rapidly.

One in two Australian smart phone users, say they have used their mobile phone to make a purchase in-store, in-app or on a website, rising from 18% in 2019 to 49% in 2022

What are your thoughts?

How have you prepared for this in your business?