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ANZ collaborates with universities to pilot offline CBDC payment through smart cards

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It is reported that ANZ is cooperating with two universities to try offline CBDC payment through smart cards, which can load funds and be used like physical ca…

ANZ collaborates with universities to pilot offline CBDC payment through smart cards

It is reported that ANZ is cooperating with two universities to try offline CBDC payment through smart cards, which can load funds and be used like physical cash. The pilot will be conducted on the campus of Southern Cross University and RMIT University. As part of the pilot project, NFC-supported smart cards with CBDC funds will be distributed to participating students. This is one of the four tests supported by ANZ in the RBA pilot. Another project will test the efficiency and effectiveness of employers using CBDC to pay pensions as a viable alternative to traditional payment methods, while the third project will study the issuance of CBDC according to KYC process.

ANZ tried offline CBDC payment through smart card

Analysis based on this information:


ANZ, a leading bank in Australia, is teaming up with two universities, Southern Cross University and RMIT University to pilot offline CBDC payment through smart cards. The pilot project involves distributing smart cards embedded with CBDC funds to participating students on campus. The move is part of the bank’s four tests in the RBA pilot aimed at exploring the potential of CBDC and its use within the Australian payments ecosystem.

The use of CBDC payment through smart cards aims to simulate physical cash and offers a convenient payment and settlement option for customers without the need for immediate internet connectivity. CBDC offers instant and secure transactions, reducing the need for intermediate payment systems and the potential for fraud or theft.

The ANZ-led pilot project will study how NFC-supported smart cards with CBDC funds can be used for off-line transactions in small businesses, particularly in areas where the internet connection is poor. Smart cards with embedded CBDC can also be used to load funds and be used like physical cash, a significant advantage for customers and merchants alike.

One of the four tests that ANZ supported in the RBA pilot is exploring the potential of employers using CBDC to pay pensions as a viable alternative to traditional payment methods. The third project examines the KYC process for the issuance of CBDC, while the fourth project explores CBDC’s potential to reduce the cost and time of domestic and cross-border payments.

ANZ’s partnership with universities for the pilot project follows in the wake of other banks and governments worldwide that are exploring the potential of CBDCs as a tool for digital infrastructure. The integration of CBDC into a smart card form factor represents an innovation in the payment industry, and its success could lead to the replacement of traditional payment methods, particularly in developing countries without adequate banking infrastructure.

In conclusion, the ANZ-led pilot project is a crucial step towards exploring the potential of CBDC and its use in the payment ecosystem. Smart card payment systems will offer a convenient payment and settlement alternative for customers, particularly those who have no access to traditional banking systems or the internet. The success of the pilot project could position CBDC as a critical tool in the digitalization of payments worldwide.

Keyword: ANZ, CBDC, smart cards, pilot, universities.

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