As the card “surcharge ban” looms and small businesses look to cash as an alternative, experts say the sworn enemies of cash – the global card schemes - are ramping up the price of cash
Australia's biggest banks say a single cash utility is the only way to keep notes and coins flowing after Westpac exits the commercial cash business. But submissions to the ACCC reveal almost nobody supports the
Hello Clever has recruited former Bolt Financial boss Justin Grooms to spearhead its US expansion as it urges merchants to ditch cards for real-time payments ahead of the October 1 surcharge ban.
Preference for mobile over physical cards already seen among debit users is now showing up in credit, with more than half of all contactless in-store credit card transactions now being made with a mobile device.
Two moves have converged on Apple’s checkout. Afterpay has launched a longer-term, fully regulated credit product exclusive to Apple, and American Express has turned rewards into spendable dollars inside Apple Pay. One splits the bill
The Reserve Bank of Australia (RBA) has opened a major debate on the future of payments security but one issue affecting thousands of Australian merchants is conspicuously absent – the growing cost of chargebacks, first-party fraud and who should ultimately bear the losses.
What the company describes as “a planned and carefully governed succession” in Australia, comes as the global group is making wholesale changes at the top, sparking rumours of a sale or float as it moves aggressively into providing services for stablecoin payments.
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TRENDING STORIES ▸
Payments COMMENTARY ▸
With just 87 days to run until “no surcharge” rules are applied by the schemes one payments enthusiast is trying to do what the industry and regulators has failed to ...
As we move through the next phases of the RBA’s changes, we will learn exactly how the schemes and issuers intend to keep interchange as high as possible and merchants ...
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THE INTERCHANGE BENCH ▸
On The Interchange Bench this week, Buckley throws in the towel as Cuscal hits $1 billion, Tyro cooks up a new Bakers Delight offering, Slade lands on the ANZ Board, ...
On The Interchange Bench this week, Cuscal’s Head of Legal Manell Saad is elevated to Company Secretary, while the company welcomes a new Board member, Dr Leila Fourie. Meanwhile, ING ...
A2A ▸
What the company describes as “a planned and carefully governed succession” in Australia, comes as the global group is making wholesale changes at the top, sparking rumours of a sale or float as it moves
The key problem for Australia’s payments network operator is how to enforce its own rules and fund the potential upgrades demanded by regulators and politicians.
A revised vision for account-to-account payments will be released today as regulators and government intensify scrutiny on competition, access and security reforms.
Hello Clever has recruited former Bolt Financial boss Justin Grooms to spearhead its US expansion as it urges merchants to ditch cards for real-time payments ahead of the October 1 surcharge ban.
A parliamentary inquiry has called for sweeping reforms to Australia's account-to-account (A2A) payments system, urging government and industry to make the New Payments Platform (NPP) easier for smaller payment providers to access while strengthening security,
CARDS ▸
Preference for mobile over physical cards already seen among debit users is now showing up in credit, with more than half of all contactless in-store credit card transactions now being made with a mobile device.
More Australians are pulling out cash by tapping a phone, watch or card at the ATM and Mastercard is cashing in with a big scheme fee increase which will likely be passed on to consumers.
Over the next two years, the Reserve Bank of Australia will scrutinise potential competition and efficiency issues associated with American Express, while the company takes a risky bet on merchants continuing to honour its cards
As we move through the next phases of the RBA’s changes, we will learn exactly how the schemes and issuers intend to keep interchange as high as possible and merchants paying for cardholder privileges. Could
From a single ATM transaction to processing almost 200 million payments worth $30 billion a year, EFTEX is celebrating 25 years as one of the quiet achievers of Australia's payments industry.
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Topics: CASH ▸
Australia's biggest banks say a single cash utility is the only way to keep notes and coins flowing after Westpac ...
The Government has formally introduced its long-awaited legislation to “safeguard” Australia's cash distribution system, but the parliamentary debate has now ...
Just 12 weeks before Australia’s controversial “no surcharge” rules take effect, Uber is embracing the one payment method merchants can ...
Topics: BANKS ▸
Commonwealth Bank’s AI vision just got real, with the bank unleashing “CommBank Companion” for testing on both businesses and consumers ...
Tyro has held a full banking licence since 2015, the first Australian tech company to get one. For most of ...
So far most Australian institutions have been reluctant to identify AI replacing jobs but the evidence from offshore on fraud, ...
Topics: SCAMS & FRAUD ▸
The Reserve Bank of Australia (RBA) has opened a major debate on the future of payments security but one issue ...
NAB has unveiled a new around-the-clock operations hub that brings together cyber, fraud, payments and security teams as Australian banks ...
The Federal Court says failures by the Australian arm of London-based banking giant HSBC to protect scam victims were serious ...
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No surcharging: what’s the real cost to merchants