Cash mandate consultation live

By Staff Reporter

Pre-empting a likely election issue, Treasury has kicked off its consultation on the Government planned cash mandate, publishing its discussion paper just before Christmas.

The consultation will no doubt increase lobbying around a host of issues, including security, reliability of digital payments, regional branch closures and the suitability of services such as ATMs and Bank@Post for cash access and distribution.

First insights into PayTo growth - slow but steady

By Peter Drennan, Senior Business Analyst

PayTo has been around for almost two years now, and new data from the RBA has shown a slow start for life for the real-time, direct debit payment technology.

With data now at hand, how is PayTo performing?

Monthly Payments Data Report

By Peter Drennan, Senior Business Analyst

The RBA released its Retail Payments data as at November 2024 on the 10th of January.

Interchange regulation alone won’t be enough to tackle card fees

By Michael Sainsbury, Senior Business Correspondent

Interchange fees have long been the focal point for regulators seeking to control merchant payment costs. However, mounting evidence suggests that regulating these fees alone has been insufficient to curb overall payment expenses that are now estimated at $6.4 billion each year in Australia.

Despite regulatory interventions in Australia, the UK, the EU, and elsewhere, payment fees have continued to rise, prompting regulators to reassess their approaches, including the Reserve Bank of Australia (RBA) in its latest inquiry which began in October 2024.

Christmas expires in 3 years

Opinion By Brad Kelly, Payments Commentator

Gift cards are big business, but the money is made is when you don’t use them.

In the USA, over $30 billion was spent on gift cards … at Christmas alone.

Just like a gym membership, the goal of selling you a gift card is for you not to use it.

Carsales teams with Monoova in online motor buying deal

By Staff Reporter

Carsales auto marketplace, has partnered with payments platform Monoova to make buying and selling a vehicle online “safer, simpler, and more efficient”, using the New Payments Platform and PayTo.

The new solution ensures funds are released only when both buyers and sellers are satisfied, “removing the stress and uncertainties typically associated with bank transfers, cheques, and cash exchanges”.

Law Council advocates transparency in card payments fees

By Staff Reporter

The Law Council of Australia has lodged a submission with the Reserve Bank of Australia, calling for greater transparency of wholesale fees and warning that a ban on surcharging will result in higher prices for consumers.

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