Future competition Now, we have three factors contributing to more competition among retail banks when running their businesses and payment services in particular; the financial market turmoil and its impacts leading to tight profitability, the new ways of doing business with a threat of new potential entrants growing competition, and, finally, the new technologies which allow bank customers to bypass old payment methods.
It is possible that low interest rates are part of the story here. All up, there are 14 $ notes on issue for every Australian, 30 $ and 7 $ That makes for around $ worth of banknotes on issue for every Australian. I, for one, don’t have anywhere near that amount.