Archive | PayDay News

Regulation

Apr 1, 2026

Tokenisation is coming, but Australia's still got a lot of work to do: RBA

Brad Jones laid out a roadmap for tokenised money and assets at the Australian Payments Plus Beyond Tomorrow conference. The message to industry: we've kicked the tyres, we know what works, the clock is ticking and we have a lot to do.

Regulation

Apr 1, 2026

Unplugged Binance fined $10m for exposure

Binance Australia is having a bad year. After being unplugged after a short stint riding the Australian financial system via Bolt Group and Banking Circle, the company has now been fined $10 million for exposing its customers to high risk crypto products without protection and is still under an AUSTRAC investigation.

A2A

Apr 1, 2026

US giants Mastercard and Visa eye Aussie A2A options

Fresh from its acquisition of stablecoin infrastructure player BVNK, Mastercard now has its eye on Australia’s account-to-account market as it continues to expand its global tentacles into new forms of payments. And, as usual, Visa is joining the party.

Regulation

Mar 25, 2026

BECS lifeline?

In an effort to take the pressure off ongoing criticism from the Reserve Bank, industry is about to release its assessment of the options to upgrade the old Bulk Electronic Clearing System (BECS).

Government

Mar 25, 2026

Coinbase asks Senate for more on debanking

As the government looks to introduce the Digital Assets Framework Bill to regulate crypto currencies in Australia, Coinbase remains concerned about the lack of a substantive solution when it comes to debanking.

Cash

Mar 25, 2026

Cyclone Narelle exposes Australia's cashless fragility

Cyclone Narelle ripped through Cape York and slammed into the Northern Territory, affecting dozens of remote communities scattered across the Top End, including their ability to buy anything at all.

Government

Mar 25, 2026

Express Transit mobile confusion as Victorian myki tap trial kicks in

Easy access mobile payments for transit may be responsible for Victorian commuters accidently paying for fares twice.

Digital & Online

Mar 25, 2026

Leaked list reveals high risk NPP customers

Cuscal, Westpac, Zepto and ANZ have been told to keep a close eye on more than two dozen companies in the remittance and money transfer, securities with investments and gambling sectors that feature on a leaked “high risk” list of merchants they connect to the financial system via the New Payments Platform.

Fintech

Mar 25, 2026

Merger abandoned amid A2A uncertainty

Plans for a merger of Monoova and Zai have been abandoned for now, but the need for consolidation in the uncertain account-to-account (A2A) paytech sector continues.

Fintech

Mar 25, 2026

Pay.com.au's new CTO wants to turn $4.2 trillion in “dead payments” into rewards

Dee Kulkarni on scaling a $633 million Australian fintech into the US, why indecision is the only bad decision, and the budget risk nobody's ignoring.

Merchant Service Fees

Mar 25, 2026

Payments fees surge as oil accelerates inflation

Higher ticket prices are creating a surge in payment fees for small businesses, in an economy that Commonwealth Bank and others believe will see the Consumer Price Index rise above 4%.

Regulation

Mar 25, 2026

PayTo needs a facelift to compete with BECS: RBA

PayTo - Australia’s real time answer to direct debit - needs an urgent facelift if the industry hopes to convince consumers to move to real time payments en masse.

Regulation

Mar 25, 2026

RBA confirms an expired certificate took down Australia's payments settlement backbone

The RBA's post-incident report on the 27 January RITS outage reveals an uncomfortable truth: the plumbing that moves billions through Australia's financial system was felled by a forgotten digital credential.

Digital & Online

Mar 25, 2026

Stablecoin transactions pay the toll with Mastercard and Visa making sure of it

Mastercard and Visa are building the tollbooth for stablecoin, one acquisition and partnership at a time.

The Interchange Bench

Mar 25, 2026

The Interchange Bench

This week on The Interchange Bench, Paynter takes the reigns at Zero, Spence heads for the sun, SME champ Billson finds a new gig, PayPal bends the rules for Bluesfest punters, Azupay goes to lunch and Volt searches for compliance help.

Digital & Online

Mar 18, 2026

Bluesfest collapse triggers refund confusion

Due to a rare ticketing arrangement Stripe and PayPal are now on the hook for millions in refunds via delayed card chargebacks, after the merchant, Bluesfest Enterprises, went belly up.

Banks

Mar 18, 2026

CHOICE: banks not doing their bit to stop financial elder abuse

A CHOICE report has found that most banks aren’t complying with their own industry code of practice to stop elder financial abuse - costing vulnerable people several billions of dollars a year.

Fintech

Mar 18, 2026

Consultation looks at PSPs, ePayments Code powers and unclaimed funds

Treasury has launched a consultation on new legislation for payments service providers (PSPs), including power to make rules for a mandatory and revised ePayments Code and new controls for unclaimed monies.

Cash

Mar 18, 2026

Debit cards hit 77% of volume and 70% of in-store purchase value for first time

Australian consumers continued their shift towards debit cards in January 2026, with debit reaching 77% of volume and a milestone 70% share of in-store card purchase value for the first time on record.

Digital & Online

Mar 18, 2026

Little action on illicit tobacco instore and online payments as “wars” escalate

With illegal tobacco being couriered around the country by Australia Post on the back of online payments, only CBA and Tyro appear to be taking noticeable action as the Federal Coalition sets up its own tobacco taskforce.

Fintech

Mar 18, 2026

Monoova launches FX Hub while merger rumours grow

Amid increased chatter about a merger, Australian paytech Monoova has launched a new platform bringing domestic collections, foreign exchange conversion, funding, and settlement into a single automated flow.

Regulation

Mar 18, 2026

Payments most powerful - a year of tough decisions for the PSB

It is a very busy and critical time for payments most powerful decision-makers, but with delays in decisions, extra scrutiny from the economics committee, and a member’s term ending in December, interest is swirling about the RBA's Payments System Board.

Regulation

Mar 18, 2026

Rare debit surcharge slap for Hyatt just days away from RBA decision

More than 18 months after receiving $2.1 million in funding for surcharging surveillance, the competition regulator has finally taken action.

Fintech

Mar 18, 2026

Revolut introduces PayTo for Australian customers

Revolut says its has found a simpler solution for its customers paying pesky utility bills and online subscriptions. With PayTo, consumers can now view, pause or cancel recurring payment agreements within their app.

A2A

Mar 18, 2026

The economics of A2A: the “fee free” illusion in real time retail

Comparisons with other territories used to push A2A retail business cases in Australia are misleading. In reality, buying a coffee, beer or train ticket is most likely cheaper with a debit card on your mobile.