Local FinTechs are being called up to help the New South Wales government introduce innovative payment methods as part of a major refresh of its transactional banking contracts.
NSW Treasury issued an expression of interest to “expand the innovation capability within government banking and payments” earlier this month, alongside separate EoIs for core banking and platforms.
It is the first time in more than five years that the state government has market tested the contracts, which replaced a single contract held exclusively by Westpac for more than 15 years in 2018.
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