, either at home or at work. of those, about 80 per cent reported having made an online purchase and almost 60 per cent reported an online transfer of funds to a family member or friend. a surprisingly high 60 per cent of people with internet access said they pay most of their bills online. we also tried to find out what things prevent people from making even greater use of online payments ( graph 3 ). the graph we have here shows the answers for online bill payments, but we also collected responses for online purchases and transfers. graph 3 bis central bankers ’ speeches first of all, to explain the large bar at the bottom : we were asking people what would make them happier to use online bill payments, but what we found was that more than a quarter of respondents were already satisfied and didn ’ t think they could be improved. beyond that, by far the biggest factor preventing people from making more use of online bill payments is the risk of fraud. this was even more marked for online purchases, where around half of respondents identified risk of fraud as a factor discouraging greater use. in fact, the level of satisfaction is lower for online purchases overall than for online bill payments and transfers. probably this reflects a lower degree of comfort with online purchases using methods like credit cards and paypal, compared to making bill payments using bpay and internet banking transfers. adoption of the other two new waves of payments technology – contactless payments and mobile payments – is much lower than online payments. only around 3 per cent of survey respondents had made a contactless payment in the last month. less than 10 per cent of respondents had ever made mobile payments. where they had, the main purpose was for phone - related purchases such as ringtones or games ( graph 4 ). most of the other mobile payments made were effectively internet payments made using a smartphone. graph 4 in short, the survey doesn ’ t seem to point to any major dissatisfaction with payments services in australia, but it sheds some light on why payment - use patterns are as they are, and some possible areas of improvement that can be looked at further. we ’ ll be publishing a fuller analysis of these results later in the year. results of the initial consultations as i said earlier, we ’ ve had significant interest shown by a wide range of industry and other players in response to our initial request for comments. a number of interested parties have provided us with written submissions, and many more have made themselves available for informal discussions with rba staff. i

costs. taking this further, it may be possible, in time, for government to dispense with agencies'transactions accounts and the associated daily sweep, allowing agencies to draw their daily spending requirements directly from the government's core accounts at the reserve bank. this could offer savings by avoiding fees currently applied on existing transaction accounts as well as increase administrative efficiency. finally, the ability to send more complete remittance information with a payment could reduce costs for australian businesses making payments to the government by including remittance information within the payment message rather than sending the information via a separate channel. it could also reduce the amount of back office work required by government agencies in trying to align payments with relevant information. open banking the government announced in may that it accepted the recommendations of a review into the design, operating model and regulatory framework for open banking in australia, and will implement them in stages over the next few years. [ 3 ] like npp, open banking represents a significant advance in banking arrangements, giving consumers of banking and financial services the right to access and https : / / www. rba. gov. au / speeches / 2018 / sp - ag - 2018 - 08 - 23. html 5 / 7 23 / 08 / 2018 the reserve bank's government banking business | speeches | rba share their banking data with third parties, including other payment service providers. the changes will increase competition for services. the reserve bank, as a banking service provider, will be participating in the open banking arrangements and is already considering ways by which our customers, along with third parties, can access their own banking data, consistent with the recommendations in the review. it is, of course, a decision for government agencies as to how they will utilise open banking. as with any new service offering, the reserve bank is consulting its customers with regard to the potential advantages for their business. at the very least, government agencies may use open access arrangements to centralise the collection of their banking data, particularly where they hold accounts at more than one financial institution. this would help to streamline the flow of their banking data to their financial management systems and provide better reporting for analytical purposes. whatever the case, the reserve bank, as a service provider, intends to play a role as a holder of data that government agencies can access from services currently provided by the reserve bank and as a receiver of data from commercial providers of banking services to government agencies. this would reduce reporting and analysis costs for the government as well