Australian merchants paid a record average of 1.03% on Visa credit transactions and 1% on Mastercard credit in the September
Christmas has come early for lawyers as Stripe warns relabelled card fees could breach consumer law, Raisely keeps tip boxes
Melbourne fintech 1receipt has launched receiptGrab, letting Australian shoppers keep a digital receipt without giving the retailer an email address
Fast, convenient payments can encourage online gamblers to spend more and make losses harder to track, says a University of
ANZ chief executive Nuno Matos was rebuked after failing to answer questions from Jerome Laxale about whether taxpayers were paying
AUSTRAC and the Australian Federal Police have disrupted a network suspected of laundering more than $123 million for crime syndicates, but Grant Thornton warns
AUSTRAC and the Australian Federal Police have disrupted a network suspected of
Commonwealth Bank reported higher retail and business fee income a day before ASIC announced it was suing over an alleged $8.5 million in overcharges
Commonwealth Bank reported higher retail and business fee income a day before
Xero earned 87 cents per $100 in bills paid through Melio’s US network, up from 66 cents a year earlier, as direct customers also
Xero earned 87 cents per $100 in bills paid through Melio’s US
Zepto’s latest index finds the NPP accounted for 71% of growth in account-to-account payments, while the older BECS network still carried 86% of the
Zepto’s latest index finds the NPP accounted for 71% of growth in
TOP STORIES
ASIC has questioned whether prediction markets for retail clients are in the
ANZ’s pledge to keep a branch in every regional community it serves
Qantas is offering businesses up to 100,000 bonus points to pay through
Macquarie Group’s $2.48 billion half-year profit has been accompanied by fresh APRA
Banking Circle Australia is offering payment providers single-use PayIDs linked to virtual
Qvalent listed PayWay and QuickSuper among five affected services, while PEXA warned
ANZ chief executive Nuno Matos was rebuked after failing to answer questions from Jerome Laxale about whether taxpayers were paying more than necessary for debit payments through the Reserve Bank.
AUSTRAC and the Australian Federal Police have disrupted a network suspected of laundering more than $123 million for crime syndicates, but Grant Thornton warns
AUSTRAC and the Australian Federal Police have disrupted a network suspected of
Commonwealth Bank reported higher retail and business fee income a day before ASIC announced it was suing over an alleged $8.5 million in overcharges
Commonwealth Bank reported higher retail and business fee income a day before
Xero earned 87 cents per $100 in bills paid through Melio’s US network, up from 66 cents a year earlier, as direct customers also
Xero earned 87 cents per $100 in bills paid through Melio’s US
Zepto’s latest index finds the NPP accounted for 71% of growth in account-to-account payments, while the older BECS network still carried 86% of the
Zepto’s latest index finds the NPP accounted for 71% of growth in
TOP STORIES
ASIC has questioned whether prediction markets for retail clients are in the
ANZ’s pledge to keep a branch in every regional community it serves
Qantas is offering businesses up to 100,000 bonus points to pay through
Macquarie Group’s $2.48 billion half-year profit has been accompanied by fresh APRA
Banking Circle Australia is offering payment providers single-use PayIDs linked to virtual
Qvalent listed PayWay and QuickSuper among five affected services, while PEXA warned
Australia’s Scams Prevention Framework is a step in the right direction to
ANZ chief executive Nuno Matos was rebuked after failing to answer questions from Jerome Laxale about whether taxpayers were paying
AUSTRAC and the Australian Federal Police have disrupted a network suspected of laundering more than $123 million for crime syndicates,
Commonwealth Bank reported higher retail and business fee income a day before ASIC announced it was suing over an alleged
Xero earned 87 cents per $100 in bills paid through Melio’s US network, up from 66 cents a year earlier,
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THE INTERCHANGE BENCH
The Week in Payments
Expert insight and analysis on the big stories shaping the payments industry.
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Subscription
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THE INTERCHANGE BENCH
The Week in Payments
Expert insight and analysis on the big stories shaping the payments industry.
TRENDING STORIES
Sunshine Loans has been penalised $5.5 million after ASIC pursued the payday
PayPal and Quest have brought Pay in 4 to The Good Guys’
The ACCC has widened Armaguard customer price protections following calls from the
Merchants took nearly $6 billion on overseas-issued credit and charge cards in
David Jones has stopped issuing credit cards, selling gift cards and cut
Qantas Business Rewards is offering up to 100,000 bonus points on BAS
ANZ paid $28 million for Worldline’s stake in its Australian merchant business
Macquarie’s half-year results show growing deposits and higher technology spending in its
New Anti-Money Laundering/Counter Terrorism Financing laws have slowed Australian Cryptocurrency transaction times
NAB’s real time payments implementation and automated reconciliation has helped Australia’s biggest
While the Finance Minister tried to dodge chaos around the credit card
Revolut’s New Zealand banking approval brings a shared bank brand across the
With the schemes’ surcharge ban well underway, many are looking to cash
CBA is pushing the benefits of virtual credit cards for supplier payments
Co-operative Bank, Commonwealth Bank’s ASB and TSB have been penalised NZ$11.7 million
CBA, NAB, Westpac and ANZ Worldline have published fee averages, but the
PAYMENTS COMMENTARY
Qantas is offering businesses up to 100,000 bonus points to pay through intermediaries like pay.com.au, B2Bpay, RewardPay and Payment Logic that can still take credit cards after the ATO stops, while Virgin and Sniip also
Independent payments commentator Vibhu Arya says linking Apple’s contactless technology with PayTo would change the game in Australia, motivating shoppers to pay merchants directly from their bank accounts with a simple tap of their iPhone.
As the “no surcharge” circus clouds clear, Westpac has cut its rate and Square is holding firm, leaving a sea of small merchants to work out how much of the interchange cut has actually reached
TRENDING STORIES
Former Westpac CEO and Beforepay Group chairman Brian Hartzer says incoming CEO
Experts believe the government’s draft legislation to improve tax transparency for cryptocurrencies
Binance’s US$6.3 billion theft intensifies scrutiny of crypto custody as Westpac follows
Westpac is advancing Westpac One and PayID Biller as Payday Super volumes
Banking Circle is supporting AllUnity’s push into cross-border business payments, providing the
After paying no tax in FY25, Linfox Armaguard’s proposed new cash pricing
While NAB says consumer spend remained solid in September in Australia, consumer
As participants struggle to reach consensus, AusPayNet and AP+ could gain six
A new Suva training hub will teach cybersecurity and e-commerce skills as
Australia’s best payments minds have until 27 November to nominate for a
Qantas Frequent Flyer members can spend points on more movies and attractions
A narrow cash mandate, retail exemptions and separate plans for distribution, ATMs
PAYMENTS COMMENTARY
Qantas is offering businesses up to 100,000 bonus points to pay through intermediaries like pay.com.au, B2Bpay, RewardPay and Payment Logic that can still take credit cards after the ATO stops, while Virgin and Sniip also
Independent payments commentator Vibhu Arya says linking Apple’s contactless technology with PayTo would change the game in Australia, motivating shoppers to pay merchants directly from their bank accounts with a simple tap of their iPhone.
Upgrade your PayDay News Subscription
Subscribe to get your weekly PayDay News updates direct to your inbox
Stay up-to-date with the latest Australian payments news
Subscribe to get your weekly PayDay News updates direct to your inbox
People, moves and talk from across the payments world.
On The Interchange Bench, PayNuts taps NAB’s Zsolt Selmeci for partnerships and Mark Paice steps up at Kiwibank. Tyro’s sushi tram rolls as its shares slide 31%, Azupay weighs in on surcharges and ANZ’s PayTo campaign for IKEA hits the streets.
a2a
Zepto’s latest index finds the NPP accounted for 71% of growth in
Australian merchants paid a record average of 1.03% on Visa credit transactions
Independent payments commentator Vibhu Arya says linking Apple’s contactless technology with PayTo
Banking Circle Australia is offering payment providers single-use PayIDs linked to virtual
Qvalent listed PayWay and QuickSuper among five affected services, while PEXA warned
Macquarie’s half-year results show growing deposits and higher technology spending in its
cards
Australian merchants paid a record average of 1.03% on Visa credit transactions
Merchants took nearly $6 billion on overseas-issued credit and charge cards in
David Jones has stopped issuing credit cards, selling gift cards and cut
Qantas Business Rewards is offering up to 100,000 bonus points on BAS
While the Finance Minister tried to dodge chaos around the credit card
CBA is pushing the benefits of virtual credit cards for supplier payments
STAY UP-TO-DATE WITH THE LATEST PAYMENTS NEWS
Subscribe to get your weekly PayDay News updates direct to your inbox
TOPICS: CASH
The ACCC has widened Armaguard customer price protections following calls from the Regional Banking Investment Alliance, Independent Payments Forum and Clubs Australia, as the RBA brings Prosegur Australia into regulation.
With the schemes’ surcharge ban well underway, many are looking to cash as a potential substitute. APRA’s new points of presence data shows that getting cash in Australia may be a lot harder, with reduced
After paying no tax in FY25, Linfox Armaguard’s proposed new cash pricing would treat new and existing customers differently, as the Independent Payments Forum demands stronger cost controls and regional protections.
TOPICS: BANKS
ANZ chief executive Nuno Matos was rebuked after failing to answer questions from Jerome Laxale about whether taxpayers were paying more than necessary for debit payments through the Reserve Bank.
Commonwealth Bank reported higher retail and business fee income a day before ASIC announced it was suing over an alleged $8.5 million in overcharges to about 42,000 CommBiz customers.
ANZ’s pledge to keep a branch in every regional community it serves leaves room for closures when it combines its network with Suncorp Bank’s.
TOPICS: SCAMS & FRAUD
AUSTRAC and the Australian Federal Police have disrupted a network suspected of laundering more than $123 million for crime syndicates, but Grant Thornton warns demand remains strong, with organised crime continually looking for vulnerabilities across
Sunshine Loans has been penalised $5.5 million after ASIC pursued the payday lender over unlawful repayment rescheduling fees charged to financially vulnerable borrowers.
Australia’s Scams Prevention Framework is a step in the right direction to curb scam losses and protect people but, in its current form, it also opens the door to potential blame-shifting onto victims say experts.
TOPICS: CRYTPO
New Anti-Money Laundering/Counter Terrorism Financing laws have slowed Australian Cryptocurrency transaction times
Experts believe the government’s draft legislation to improve tax transparency for cryptocurrencies
Binance’s US$6.3 billion theft intensifies scrutiny of crypto custody as Westpac follows
Banking Circle is supporting AllUnity’s push into cross-border business payments, providing the
Securities regulator ASIC and the Reserve Bank have launched new consultations on
Everyday cryptocurrency investors in Australia want clearer rules for the market, with
Can I use crypto for that? Industry experts tell PayDay News that
Crypto executives say AUSTRAC’s recent crackdowns will strengthen the industry’s legitimacy.
TOPICS: REGULATION
ASIC has questioned whether prediction markets for retail clients are in the
Macquarie Group’s $2.48 billion half-year profit has been accompanied by fresh APRA
The ACCC has widened Armaguard customer price protections following calls from the
Co-operative Bank, Commonwealth Bank’s ASB and TSB have been penalised NZ$11.7 million
CBA, NAB, Westpac and ANZ Worldline have published fee averages, but the
Federal Court orders will let developers choose payment providers and offer cheaper
AFCA’s annual review reveals rising disputes over BNPL, everyday accounts, cards and
New Zealand has moved open banking standards into government hands as Westpac
TOPICS: FINTECH
Xero earned 87 cents per $100 in bills paid through Melio’s US
Melbourne fintech 1receipt has launched receiptGrab, letting Australian shoppers keep a digital
PayPal and Quest have brought Pay in 4 to The Good Guys’
Revolut’s New Zealand banking approval brings a shared bank brand across the
Zepto, Monoova, Azupay, Paypa Plane, Airwallex, Adyen, Pyng and Banking Circle see
Australia’s fintech industry is entering a more mature growth phase, led by
Payments businesses face disproportionate compliance pressures, with a new industry census identifying
A market analyst has flagged a 75% chance Square could leave ASX-listed
TOPICS: CRYTPO
New Anti-Money Laundering/Counter Terrorism Financing laws have slowed Australian Cryptocurrency transaction times from seconds to “almost an hour,” exchanges are claiming.
Experts believe the government’s draft legislation to improve tax transparency for cryptocurrencies could bring greater certainty and signal sector maturity, but they
Binance’s US$6.3 billion theft intensifies scrutiny of crypto custody as Westpac follows CBA with a $10,000 monthly exchange-payment limit and ASIC develops
Banking Circle is supporting AllUnity’s push into cross-border business payments, providing the banking services behind its US dollar stablecoin, USDAU.
Securities regulator ASIC and the Reserve Bank have launched new consultations on crypto proposals that promise better protections for users but they
Everyday cryptocurrency investors in Australia want clearer rules for the market, with several industry executives telling PayDay News that regulatory certainty could
Can I use crypto for that? Industry experts tell PayDay News that regulation and the growing availability will soon accelerate the growth
Crypto executives say AUSTRAC’s recent crackdowns will strengthen the industry’s legitimacy.
TOPICS: REGULATION
ASIC has questioned whether prediction markets for retail clients are in the public interest, while experts warn that extra scrutiny in the
Macquarie Group’s $2.48 billion half-year profit has been accompanied by fresh APRA scrutiny over a longstanding capital breach and another governance overlay.
The ACCC has widened Armaguard customer price protections following calls from the Regional Banking Investment Alliance, Independent Payments Forum and Clubs Australia,
Co-operative Bank, Commonwealth Bank’s ASB and TSB have been penalised NZ$11.7 million for AML failures, exposing gaps in transaction monitoring, investigations and
CBA, NAB, Westpac and ANZ Worldline have published fee averages, but the RBA’s transparency reforms leave Australia’s small businesses and merchants without
Federal Court orders will let developers choose payment providers and offer cheaper digital purchases, while restricting Apple’s fees. Apple plans to appeal.
AFCA’s annual review reveals rising disputes over BNPL, everyday accounts, cards and unauthorised transactions.
New Zealand has moved open banking standards into government hands as Westpac and BNZ report surging use, Kiwibank expands services and Qippay
TOPICS: FINTECH
Xero earned 87 cents per $100 in bills paid through Melio’s US network, up from 66 cents a year earlier, as direct
Melbourne fintech 1receipt has launched receiptGrab, letting Australian shoppers keep a digital receipt without giving the retailer an email address or phone
PayPal and Quest have brought Pay in 4 to The Good Guys’ terminals, expanding its in-store reach, while Zip opens ZMobile to
Revolut’s New Zealand banking approval brings a shared bank brand across the Tasman, with NZ chair Rob Everett supporting its challenge to
Zepto, Monoova, Azupay, Paypa Plane, Airwallex, Adyen, Pyng and Banking Circle see A2A opportunities, but roadmap delays, access barriers and unresolved customer
Australia’s fintech industry is entering a more mature growth phase, led by the payments sector, with nearly half of businesses reporting a
Payments businesses face disproportionate compliance pressures, with a new industry census identifying anti-money laundering obligations and licensing reform as major burdens for
A market analyst has flagged a 75% chance Square could leave ASX-listed Cuscal within five years, as Aussie underdog Tyro fights a
AUSTRALIAN PAYMENTS NEWS
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