CBA scheme fees warning piles pressure on RBA

By Michael Sainsbury, Senior Business Correspondent

The Reserve Bank’s hands off attitude to scheme fees will be tested by commentary from Australia’s biggest bank when it unveiled its financial results last week.

Australia’s card fraud problem approaches $1 billion: safe at the checkout, but soaring overseas online

By Michael Sainsbury, Senior Business Correspondent

Despite claims by the card schemes that watertight security underpins their fees, gaping loopholes are being exposed by criminals creating a fraud problem worth almost $1 billion a year.

CommBank axes rewards partners as door closes on fee cross-subsidisation holiday

By Warwick Ponder, Editor

With the days of fee cross-subsidisation for bank rewards card programs coming to an end, CommBank is slashing its partners and amping up rhetoric in opposition to the Reserve Bank’s proposed interchange fee reductions.

Banks among potential suitors for Tyro but still no sale

By George Lekakis, Senior Banking and Financial Services Correspondent

Tyro investors are jittery after it revealed it had rejected several offers to sell its business but still hasn’t landed a buyer.

CBA eyes massive capital gain on Klarna IPO

By George Lekakis, Senior Banking and Financial Services Correspondent 

As one of Klarna’s largest shareholders, Commonwealth Bank is set to book a fat gain when the buy now pay later company floats its operations on the New York Stock Exchange.

RBA tries to head off growing criticism of its surcharging assumptions

By Staff Reporter

The Reserve Bank of Australia (RBA) yesterday moved to head off criticism of the data it used in its Review of Merchant Card Payment Costs and Surcharging consultation paper.

Is industry hedging surcharging losses with sneaky fee increases in the booming online channel?

By Peter Drennan, Senior Business Analyst

While debate rages on about surcharging and the significant impact on retailers in Australia, a subtle but significant trend has emerged in the card fees data.

Confidential: AP+, AusPayNet A2A consultations wrap up

By Rachel St Clair, Reporter

A joint consultation on the future vision for A2A payments in Australia by AP+ and AusPayNet has wrapped up, with 60 submissions received - none of which will be published in full.

VC cash runs dry for retail payments fintechs

By George Lekakis, Senior Banking and Financial Services Correspondent

Venture capital support for retail payments fintechs continues to wither. But it’s a different story for enterprise-focused fintechs and retail players active in the wealth management and lending sectors..

Red Energy reaps savings thanks to PayTo

By Rachel St Clair, Reporter

Red Energy has seen a reduction in card fees and call centre handling times since its collaboration with Zepto last year, according to a new case study.

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