The launch of a New Payments Platform, owned by both the banks and Reserve Bank, will make payments instant.
It isn’t yet fully adopted, but when it is it’ll allow any financial institution to transfer money from any of its accounts to any other account near instantaneously. Those transfers will be impossible to reverse. It will make them magnets for fraud.
http://www.abc.net.au/news/2018-09-05/new-more-efficient-payments-system-magnet-fraud/10200418
