Archive | PayDay News

A2A

Jan 7, 2026

AP+ pivots to business as industry moves to complete CoP rollout

Confirmation of Payee (CoP) is continuing to build momentum, with Australian Payments Plus (AP+) now focusing its attention on business customers.

Digital & Online

Jan 7, 2026

Aussie eftpos moves on outage risks with Stand-in Processing but will card issuers play?

In an increasingly less-cash world, Australia’s domestic card network eftpos has moved to reduce the impact of bank outages with a new Stand-in Processing feature - but will card issuers be willing to wear the risk?

The Interchange Bench

Jan 7, 2026

Aussie fintechs grow in Amsterdam and Japan, while Nigel Lee gets ready for Tyro’s top job

On The Interchange Bench this week, AMEX talks up “benefits”, Nigel Lee to take charge at Tyro on Monday, Airwallex grows in Amsterdam, Zii launches in Japan and Dan Jovevski joins FinTech Australia Board.

Regulation

Jan 7, 2026

CBA commits to pay back a third of the “excessive” fees that ASIC says it charged low income customers

Commonwealth Bank (CBA) is staring down the corporate regulator, committing to pay back only a third of what ASIC says it charged low income customers and Centrelink recipients in “excessive” account fees.

Scams & Fraud

Jan 7, 2026

Framework to combat rampant scammers will launch in July 2026

Consultations closed this week on a new framework to help protect consumers from scams - as scammers and criminal gangs continue to wreak havoc on hundreds of thousands of Australian families and businesses.

Cash

Jan 7, 2026

Mandate kicks off a big year for cash policy, as ACCC greenlights ABA collaboration on distribution despite concerns

The Cash Acceptance Mandate became law on January 1 and the ACCC has now greenlighted the Australian Banking Association (ABA) to collaborate on cash distribution despite stakeholder concerns - kicking off a huge year for cash policy in Australia.

Digital & Online

Jan 7, 2026

Revenue NSW serves up irrelevant personal data in unclaimed money search

Revenue NSW is handing out buckets of personal information to complete strangers when citizens search for unclaimed cheques, dividends and other money.

Digital & Online

Jan 7, 2026

RITS is set to be rebuilt - and beyond patching its faulty pipes

The Reserve Bank Information and Transfer System (RITS) is set for a major upgrade this year – the first “strategic modernisation” of Australia’s high-value real-time settlement system since the Fast Settlement Service was launched in 2018.

A2A

Jan 7, 2026

Worldpay picks Banking Circle to partner on real time play in Australia

Worldpay is partnering with Banking Circle to provide its Australian customers real-time payouts, consistent integration, reporting, and reconciliation as well as full support for local clearing rails.

Digital & Online

Dec 17, 2025

Airlines lead Christmas loyalty frenzy as DJs backpedals on window displays

With the RBA interchange cut coming down the pipe next year, shoppers are being tempted this Christmas with a myriad of offers to join a growing range of loyalty schemes.

Fintech

Dec 17, 2025

Airwallex takes on Square, PayPal, Stripe and Adyen with global omnichannel POS play

Aussie-born payments outfit Airwallex is about to venture into the POS terminal market globally, with a slick new machine to take on big players like Square, PayPal, Stripe and Adyen in 2026.

Banks

Dec 17, 2025

Aussies urged to claim $820 million in uncashed cheques, as Feds phase them out

The Federal Government will fund key agencies to quickly phase out cheques in Government, while the industry is urging consumers to cash in their cheques before the September 2029 deadline.

Fintech

Dec 17, 2025

BECS 2030 closure abandoned as industry develops roadmap

After a lot of noise in the market and a damning risk assessment from the RBA, the industry has finally ditched the 2030 BECS closure date. No new date will be nominated until the industry can demonstrate it has overcome a number of hurdles such as reach, resilience, cost and a shared vision for A2A.

Fintech

Dec 17, 2025

Blockley hangs up his payments consulting hat

After 37 years of consulting for some of the nation’s biggest banks and global card schemes, the big end of town’s gun for hire Lance Blockley is hanging up his hat at The Initiatives Group (TIG) and passing on the mantle.

Cash

Dec 17, 2025

Chalmers mandates cash at servos and supermarkets but safety wins the nights

Service stations and supermarkets will be required to accept cash from 1 January 2026 - but the night shift will be left cashless due to safety concerns.

Fintech

Dec 17, 2025

Christmas shoppers fund climate and biodiversity projects and deliveries boom

Australian fintech Sphere for Good and New Zealand’s HealthPost’s partnership has seen Flora & Fauna online shoppers make 11,000 contributions towards climate and biodiversity projects when ordering parcel deliveries in the lead up to Christmas.

Cash

+12

Dec 17, 2025

Massive year in payments but 2026 looms even larger

There will be little rest for the payments industry this summer, as businesses, regulators and lawmakers get ready for a raft of big changes in the New Year. In the final edition of PayDay News for 2025, we look at the big changes this year, and what to expect in 2026.

Fintech

Dec 17, 2025

Mint Payments partners with Zip Co to add flexible payment options for travel merchants

Mint Payments and Zip Co have partnered to introduce flexible payment options for travel bookings across Mint’s merchant network.

A2A

Dec 17, 2025

NPP volume up 14%

The New Payments Platform (NPP) processed almost 2 billion transactions in the past 12 months – a 14% lift Year on Year as more use cases emerge.

The Interchange Bench

Dec 17, 2025

PEXA takes on NSW, the RBA opens the kimono and Kelly gets a Christmas gong

On The Interchange Bench this week a monopoly goes to court, an oligopoly showers its chief, the RBA hands over more info and our very own payments commentator gets a well deserved Christmas gong.

Dec 17, 2025

The winners - 2025 PayDay News Awards

We are pleased to announce the winners of the inaugural PayDay News Awards, including Best Read Story, Most Talked About Company, Most Talked About Payments Executive, Most Talked about Product, Best Data Contributions, Most Influential Industry Association in Payments and Best Payments Public Relations operative.

Digital & Online

Dec 17, 2025

Threats to payments system front and centre at summit

The resilience of the nation’s payments system has been flagged by the RBA Payments Board as the nation’s cyber security coordinator weighed in at the AusPayNet Summit.

Fintech

Dec 17, 2025

Tyro buys Thriday for SME edge

Tyro is acquiring Melbourne-based fintech Thriday, an AI-powered financial management platform that automates invoicing, expense management, accounting and banking workflows.

Banks

Dec 10, 2025

ASL to start 2026 with a new name and tagline – “Australia’s payments bank”

ASL will start 2026 with a new name – Banking Circle – as it moves to compete with a bolstered Cuscal fresh from its Indue acquisition.

Digital & Online

Dec 10, 2025

As the rollout deadline approaches, Confirmation of Payee may need to race on off-system BSBs and allocated EFT

The rollout of Confirmation of Payee is due for completion by year end, already reaching 141 million Australian bank accounts across 116 organisations. But like all payments upgrades there may be some work still to do at the edges, including off-system BSB and allocated EFT transactions.