Staff Reporter

Amex ordered to compensate customer after privacy breach

The Australian Privacy Commissioner has ordered American Express Australia to compensate a customer, apologise and strengthen internal controls after finding the card issuer failed to adequately protect personal information from unauthorised employee access.

Featured

Aussie IPF joins powerful global merchant group

Australia’s Independent Payments Forum (IPF) has been selected to provide Australian perspectives to global retailers through the Merchant Advisory Group (MAG) which boasts members such as Amazon, Walmart, The Walt Disney Company and Netflix.

Terminal upgrade looms as RBA widens payments security focus

Australia's banks and card acquirers face a technology overhaul of the nation's card payments infrastructure as regulators intensify their focus on cryptographic security and quantum computing risks.

Scams & Fraud

ATO urging business to act now on Payday Super

With less than 4 weeks until Payday Super becomes mandatory for Australian businesses, the ATO is urging employers to act now.

Digital & Online

Scamwatch warns of fake crypto platform scams

The Australian Securities and Investment Commission (ASIC) and the National Anti-Scam Centre (NASC) have warned Australians to be on the lookout for fake crypto asset trading platform scams.

Scams & Fraud

Box seats for A2A faithful as AP+ opens the kimono at PSP forum

A large group of account to account (A2A) fintechs including Azupay, Bolt Group, Constantinople, DSPANZ, Fat Zebra, Flash Payments, Fusion Pay, Global Payments, GoCardless, Linkly, Merchant Warrior, Monoova, Ozedi, Paydock, Paypa Plane and Stripe have been given a front row seat on development of the New Payments Platform as the debate over its vision and roadmap intensifies.

Fintech

ACCC assesses competition impact of Mastercard’s BVNK acquisition

The ACCC has called for submissions about the potential competition impacts of Mastercard’s proposed $1.8 billion acquisition of stablecoin infrastructure company BVNK.

Regulation

Business credit is where the action (and interchange) is

Commonwealth Bank’s quarterly results show what is becoming a familiar pattern of business lending growth amongst the big bank card issuers, after NAB and Westpac also showed big spikes.

Banks

Online gambling bans to impact PSPs and fintechs

Payment Service Providers (PSPs) and fintechs are likely to lose a raft of lucrative customers after the Prime Minister announced that bans on online gambling products are being strengthened.

Fintech

ACCC and RBA to step up in cash distribution role

Whilst the new pricing model for Armaguard continues to be delayed, Treasury is requesting feedback on a cash distribution bill, one that assigns new powers to the ACCC and RBA to ensure the sustainability of cash services in Australia.

Cash

Sydney’s Hello Clever teams with Checkout.com on global AI and rewards play

A new deal with Checkout.com aims to further expand Sydney based Hello Clever’s international growth strategy, having already established regional headquarters in Singapore, New York, and Tokyo.

Fintech

CBA and the evolution of Aussie payments

As the biggest player in the market, the Commonwealth Bank has been at the forefront of electronic payment milestones for the past 40 years, supporting Australians to adapt to the ever-changing payments landscape. The bank's payments leaders, Albert Naffah and Alison Chang, take a close look at the payments evolution.

The Payments Spotlight

ACCC takes on Mastercard in Federal Court

The ACCC's landmark competition case against Mastercard opened in the Federal Court on Monday, with senior counsel for the regulator, John Sheahan, walking Justice Wigney through the evidence.

Merchant Service Fees

Delays and outlook see EML shares dive

ASX listed EML’s new CEO Adam Olding faces a serious challenge after the company’s revised outlook saw shares take a big dive on Monday.

Fintech

AI driven social media scam surge warning: Westpac

Westpac is warning Australian businesses and households to brace themselves for a “new wave of personalised, AI driven scams” this year, and wants social media platforms to step up.

Digital & Online

Rubin takes local Chair for Airwallex

Business leader and Reserve Bank of Australia Governance Board Director Elana Rubin has been appointed local Chair at Airwallex.

Fintech

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.

Fintech

Latitude hits new altitudes in credit card spending

A 59% jump in cash profit sparked a rally in Latitude Group shares last week, with the company’s 2025 results shows a sharp increase in credit card spend.

Fintech

RBA releases details of CS crisis powers to protect financial markets

The Reserve Bank of Australia (RBA) has published its rules for intervening if there is a threat to domestic financial stability or to the continuity of the Clearing and Settlement (CS) facility’s services that are critical to the functioning of the financial system in Australia.

Digital & Online

Alan Townsend appointed CEO of EFTEX

Australian-based payments services provider EFTEX has announced Alan Townsend as their new Chief Executive Officer.

Cash

Binance deposits play unplugged

Just two weeks after embattled crypto exchange Binance re-launched direct dollar deposits and withdrawals via PayID and bank transfers in the Australian market, the service appears to have been switched off.

Fintech

LemFi aims for booming Australian remittance market

LemFi is launching remittance services to Australian residents – firmly targeting what it says is one of the world’s fastest-growing and most important outbound remittance markets, worth $56.6 billion.

Fintech

Lyndall Rose and Shane Fryer join Monoova executive

Monoova has topped up its executive team with new talent, bringing in ex-Police Bank CIO Lyndall Rose as Chief Operating Officer, and former ANZ Worldline compliance boss, Shane Fryer as Chief Risk Officer.

Fintech

Teething issues as embattled Binance bounces back with PayID via Bano

Embattled crypto exchange Binance Australia is again offering direct Australian dollar deposits and withdrawals via PayID and bank transfers - but customers say there are teething issues.

Fintech

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.

Regulation