Australia is nearing the installation of a new nationwide digital identification system for banking and transactions, after several of the largest banks in the nation gave their support for the new platform called “ConnectID.”
‘ConnectID is not the only company accredited under the TDIF. Competitors in verifying citizens’ digital identities in Australia include Mastercard and Australia Post,’ Biometric Update notes.
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Australian Payments Plus’ (AP+) made the announcement on LinkedIn over a week ago. AP+ is the broker for Australian bill payment system BPay, and Eftpos, an electronic payment terminal.
Eftpos announced that their systems can accept QR codes starting last year, removing the need for physical cards and cashless. It acts as a digital wallet.
AP+ provided more details in their press release on LinkedIn:
Announced today in the AFR, the four major Australian banks, ANZ, Commonwealth Bank (CBA), NAB, and Westpac, announce their support behind Australian Payments Plus’ (AP+) development and establishment of an open, standards-based national identity infrastructure called ConnectID, to protect customer privacy and drive productivity in the Digital Economy.
Lynn Kraus, CEO AP+ said
This is a major milestone for the Australian industry’s adoption of digital identity, aiming to securely and simply deliver a seamless online identity verification experience to solve real world issues.
We are excited that AP+ can deliver innovation, security, and convenience to the daily lives of Australian consumers and businesses through the creation of a national digital identity ecosystem with ConnectID.
CBA’s General Manager, Open Data, Katherine Sleeth said:
We are pleased to help our customers have more control of their data and privacy, enabling them to share their personal information with approved merchants, backed by the security of the CommBank app. The quick online process will save customers time and help keep them safe online.
NAB Chief Digital, Data and Analytics Officer, Angela Mentis, said the bank was proud to play an integral role in bringing digital identity to the Australian market, with customer empowerment top of mind for the bank throughout the process.
NAB’s priority in helping bring digital identity to life has been to empower customers with choice – to verify their identity how and when they want, whilst ensuring privacy and personal data is protected.
We think that digital identity will be the most crucial enabler of safe and secure interactions in our future economy, and are certain that customers can have trust in this solution.
Mentis said.
Andrew Black, Managing Director ConnectID AP+ said:
Australians trust the security and reliability of their banks and payments providers, for that reason developing a robust, standards-based digital identity ecosystem that can be used by major banks and trusted Australian organisations is a natural extension for AP+.
ConnectID is committed to help Australian banks, businesses and local retailers protect the sovereignty and security of Australian payments and identity data.
AUTHOR COMMENTARY
[16] And he causeth all, both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads: [17] And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name. [18] Here is wisdom. Let him that hath understanding count the number of the beast: for it is the number of a man; and his number is Six hundred threescore and six.Revelation 13:16-18
This is obviously further laying down the foundation for the coming mark of the beast. But in the short end for now, this signals, to me, that central bank digital currencies for Australia are coming very very soon, if not sometime in 2023 or soon thereafter.
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[7] Who goeth a warfare any time at his own charges? who planteth a vineyard, and eateth not of the fruit thereof? or who feedeth a flock, and eateth not of the milk of the flock? [8] Say I these things as a man? or saith not the law the same also? [9] For it is written in the law of Moses, Thou shalt not muzzle the mouth of the ox that treadeth out the corn. Doth God take care for oxen? [10] Or saith he it altogether for our sakes? For our sakes, no doubt, this is written: that he that ploweth should plow in hope; and that he that thresheth in hope should be partaker of his hope. (1 Corinthians 9:7-10).
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