Briefs: Swansson moves to Visa, NZ contactless payment numbers boom, new NZ consumer credit regulati 05 November 2014 4:50PM Banking Day staff Briefs, Former Coles executive Douglas Swansson will join Visa as senior director, merchant partnership development, Asia Pacific. Based in Singapore, Swansson will work in Visa's merchant sales and solutions team. Swansson took redundancy from Coles in August after extended service shaping the retailer's payments business. Visa said Swansson would "focus on developing in-house segment expertise, lead key merchant initiatives and help develop strategic alliances across the region." Visa has reported over three million contactless transactions were made with its payWave cards in September, which was more than three times the number made in September 2013. The latest New Zealand retailers to sign up to PayWave include McDonald's and the Foodstuffs supermarkets, Pak'nSave and New World, which are bigger than Woolworths' Countdown in New Zealand. New Zealand Commerce and Consumer Affairs Minister Paul Goldsmith has released a discussion paper on new consumer credit regulations aimed at improving the information given to borrowers. The regulations follow the passing of the Credit Contracts and Consumer Finance Amendment Act in June. The proposals cover information on borrowing costs, credit card minimum repayment warnings, and rebates for extended warranties. Submissions are due by December 1. Bad debts will spiral higher among Vietnamese banks over the coming year, according to researcher SNL Project. ANZ has a wholly owned entity in the country and recently made plans to sell down a holding in Saigon Securities. VietinBank, BIDV and Vietcombank have all reported non-performing loan ratios in a range from two to three per cent.