LOGIN
SUBSCRIBE
UPGRADE
LOGOUT
Open menu
PayDay News - Payments Industry News Australia
Got a story
to share?
Open menu
LOGIN
SUBSCRIBE
UPGRADE
LOGOUT
PayDay News | Australian Payments News

HSBC retail exit leaves future of Australian credit card portfolio in limbo

Editor
5 Aug, 2026
Add us as a preferred source on Google
Warwick Ponder
Editor
5 Aug, 2026
Add us as a preferred source on Google
Just weeks after being slapped with a $35 million fine for failing to protect scam victims, HSBC's decision to exit Australian retail banking leaves thousands of credit card customers and staff awaiting answers.
HSBC retail exit leaves future of Australian credit card portfolio in limbo
HSBC Australian CEO Steve Hughes is yet to announce the future of the card portfolio.

Just weeks after being slapped with a $35 million fine for failing to protect scam victims, HSBC's decision to exit Australian retail banking leaves thousands of credit card customers and staff awaiting answers.

Subscriber article

This article is available to PayDay News subscribers.

Subscribe to continue reading
PAYDAY NEWS ANNIVERSARY EDITION

trending

The fault lines in Australia’s payments
Commentator Vibhu Arya breaks down the recent RBA submissions, analysing who is lobbying for what at a high level.
Affirm and Shopify launch Shop Pay Installments in Australia
Australian merchants on Shopify will have another BNPL option to pay with the launch of Shop Pay Installments.
NAB and AP+ warn card tokenisation closing off least-cost routing
NAB and Australian Payments Plus (AP+) have warned that card tokenisation could undermine the merchant benefits of least-cost routing, but differ on how far regulators should intervene and
Adyen consolidates Melbourne’s Limitless payments across six Asian markets
Melbourne-based gifting group Limitless Technology has consolidated four payment gateways onto Adyen, simplifying payments across five brands and six Asia-Pacific markets as it continues to expand its e-commerce
Fintechs push RBA to open NPP access and unlock A2A competition
Australian fintech heavyweights led by Airwallex, Adyen, Azupay and Digital Economy Council has put access to the NPP at the centre of the RBA’s regulatory review, calling for

RELATED STORIES ▸

Banks line up against Amex as RBA weighs three-party regulation
Banks line up against Amex as RBA weighs three-party regulation
Banks line up against Amex as RBA weighs three-party regulation
Local American Express boss Corrina Davison has found herself increasingly isolated as banks, merchants and card schemes urge the Reserve ...
NAB and AP+ warn card tokenisation closing off least-cost routing
NAB and AP+ warn card tokenisation closing off least-cost routing
NAB and AP+ warn card tokenisation closing off least-cost routing
NAB and Australian Payments Plus (AP+) have warned that card tokenisation could undermine the merchant benefits of least-cost routing, but ...
Debit tips into double digits and pulls away from credit
Debit tips into double digits and pulls away from credit
Debit tips into double digits and pulls away from credit
Debit card spending grew 10.1% over the 12 months to July to $693.2 billion, in the first double-digit reading since ...
ANZ puts December hard stop on Suncorp merchant acquiring
ANZ puts December hard stop on Suncorp merchant acquiring
ANZ puts December hard stop on Suncorp merchant acquiring
Suncorp Bank merchants face a firm December deadline to find a new payments provider, months before 1.2 million Suncorp customers ...
Qantas, Virgin renegotiate with banks, loyalty profits to slow
Qantas, Virgin renegotiate with banks, loyalty profits to slow
Qantas, Virgin renegotiate with banks, loyalty profits to slow
Lower interchange caps from October 1 are forcing both airline programs to move to direct earn and push customers to ...
CBA secures exclusive deal to issue Discover charge cards, with more likely to come
CBA secures exclusive deal to issue Discover charge cards, with more likely to come
CBA secures exclusive deal to issue Discover charge cards, with more likely to come
Move over American Express, Commonwealth Bank (CBA) just secured the exclusive rights to be Discover's issuer in Australia, with plenty ...

Got a story to share?

Get in touch with PayDay News today!
Click here to email us

Topics

Advertising Enquiry

Fill out the form below, and we will be in touch shortly.

Contact Information

Got a story to share

Fill out the form below, and we will be in touch shortly.

Contact Information