His income fell, and he had to look for other sources to cover costs. That basically describes the challenge low interest rates pose to bank profitability. For some time the impact on banks of falling interest rates seems to have been ambiguous. On the one hand banks' interest margins have been compressed.
For a while, New Zealand showed leadership in the retail digital payments space through the adoption of EFTPOS with its ubiquitous agenda-free low-cost convenience, but over time this has been displaced by newer, innovative and more sophisticated payment offerings with new technological, financial and incentive offerings.