Growth outlooks for Zepto and Cuscal could suffer if BECS closure is delayed

By George Lekakis, Senior Banking and Financial Services Correspondent

The planned reconfiguration of Australia’s core retail payments architecture is potentially facing a protracted delay as banks and other payments industry participants confront the practical challenges of retiring the Bulk Electronic Clearing System.

Industry experts are concerned that such a delay could fuel cost blowouts in the payments sector and undermine the growth trajectory of specialist payments businesses such as Cuscal and Zepto.

Battle lines drawn over surcharging

By Michael Sainsbury, Senior Business Correspondent

Battle lines are being drawn over the push by the Federal government to ban surcharging, with payments service providers, banks, schemes and small businesses vying for a favourable outcome in the Reserve Bank of Australia’s review of card payment costs and surcharging.

Payment reliability improves amidst data reporting and accountability

By Peter Drennan, Senior Business Analyst

Three years after the RBA required 35 payment service providers to report on the reliability of 7 different services, we are starting to see the improvements that come from public disclosure of performance.

Monthly Payments Data Report

The RBA released it's Retail Payments data as at October 2024 on the 9th of December.

How I learned nothing from taking a break from LinkedIn for a few weeks

Opinion By Brad Kelly, Payments Commentator

I’ve been absent on LinkedIn for a few weeks. This is the first time I’ve done this since I started posting on the platform 7 or 8 years ago.LinkedIn got me a lot of attention, both positive and negative. It made me a lightning rod for all things controversial and to be honest, I’m OK with that.

CBA backflips on fee for cash withdrawals

By Staff Reporter

Following an angry political and customer backlash, CBA has “paused” a decision to charge some account holders for withdrawing cash at branches, post offices and over the phone.

Last week, Assistant Treasurer Stephen Jones and a raft of other politicians lashed out at Australia’s biggest bank for announcing the $3 fee in the lead up to Christmas.

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