The industry has its work cut out to convince the Reserve Bank to move critical Government payments to the New Payments Platform (NPP), with Governor Michele Bullock saying she’s not yet convinced about the benefits.

“I think that we'll see the quiet movement of banks exiting the end state merchant touch points,” says Tyro CEO Nigel Lee as he doubles down on backend services and hires a new COO to drive scale.

A coalition representing more than 120,000 small retailers has accused global card schemes of keeping their payment costs artificially high by applying a global playbook of “card tricks”.

Shift4 will leverage its Global Blue and Smartpay business to sell more products to its merchant base in Australia and New Zealand ... and cut costs with its Australian acquiring partner, Cuscal.

On The Interchange Bench this week: Rayner bolsters BC’s sales bench, Mason-Jones runs with issuing at Cuscal, Brisbane payments Warrior allies with Spreedly, Mastercard in fleet foray, Gemini ditches Australia, and PayPal changes bosses.

Expiring certificates were responsible for a 7 hour Reserve Bank outage that saw pays and property settlements delayed for up to four days.

Australia’s AML and financial crime regulator, the Australian Transaction Reports and Analysis Centre (AUSTRAC), last week cancelled the registration of three separate crypto firms.

Revolut has flagged plans to invest nearly $400 million in Australia as it comes under the shadow of local and overseas regulatory scrutiny.

Australian Payments Plus (AP+) hopes to reduce costs and speed up connections to the New Payments Platform (NPP) by enabling participants to integrate their back office via public cloud providers.

The Commonwealth Bank (CBA) has released a report outlining how it envisions, develops, deploys and manages Artificial Intelligence (AI) at an organisational level with a focus on responsible practices.

Corpay’s Cross-Border business is extending a collaboration with Rugby Australia as the foreign exchange (FX) payments partner.