Former Myer chief Bernie Brookes warns of disruption in payments, banking

Former Myer chief executive Bernie Brookes has warned that the financial services and payments industries are facing the same level of disruption as the retail sector as new players enter the market, new technology comes on stream and consumers become increasingly demanding.

"The same thing that has happened in retail is happening at a faster rate in payments and in financial services," Mr Brookes told a leadership forum in Sydney hosted by payment solutions provider Indue.