Australia’s real-time payments platform, which launched last week, has sparked privacy concerns. The feature, called PayID, is part of the New Payments Platform, which settles domestic bank-to-bank payments in seconds. A Melbourne-based software developer, Anthony Roberts, found that he could enter random phone numbers that had been assigned as PayIDs and discover the names of people connected with those IDs. The system is intended to eliminate problems stemming from entry errors. A spokesperson says security and fraud were “absolutely” in front of mind when designing the system. But a statement from the organization characterized what played out on Twitter as “unfortunate””]
Source: https://www.govinfosecurity.com/blogs/australias-new-payments-platform-privacy-concerns-p-2597