PayDay News March 25

Leaked list reveals high risk NPP customers

By Michael Sainsbury, Senior Business Correspondent

Cuscal, Westpac, Zepto and ANZ have been told to keep a close eye on more than two dozen companies in the remittance and money transfer, securities with investments and gambling sectors that feature on a leaked “high risk” list of merchants they connect to the financial system via the New Payments Platform.

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Stablecoin transactions pay the toll with Mastercard and Visa making sure of it

By Alex Zaharov-Reutt, Technology Reporter

Mastercard and Visa are building the tollbooth for stablecoin, one acquisition and partnership at a time.

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BECS lifeline?

By Warwick Ponder, Editor

In an effort to take the pressure off ongoing criticism from the Reserve Bank, industry is about to release its assessment of the options to upgrade the old Bulk Electronic Clearing System (BECS).

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Payments fees surge as oil accelerates inflation

By Michael Sainsbury, Senior Business Correspondent

Higher ticket prices are creating a surge in payment fees for small businesses, in an economy that Commonwealth Bank and others believe will see the Consumer Price Index rise above 4%.

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Merger abandoned amid A2A uncertainty

By Warwick Ponder, Editor

Plans for a merger of Monoova and Zai have been abandoned for now, but the need for consolidation in the uncertain account-to-account (A2A) paytech sector continues.

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Cyclone Narelle exposes Australia's cashless fragility

By Alex Zaharov-Reutt, Technology Reporter

Cyclone Narelle ripped through Cape York and slammed into the Northern Territory, affecting dozens of remote communities scattered across the Top End, including their ability to buy anything at all.

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The Interchange Bench

This week on The Interchange Bench, Paynter takes the reigns of at Zero, Spence heads for the sun, SME champ Billson finds a new gig, PayPal bends the rules for Bluesfest punters, Azupay goes to lunch and Volt searches for compliance help.

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RBA confirms an expired certificate took down Australia's payments settlement backbone

By Alex Zaharov-Reutt, Technology Reporter

The RBA's post-incident report on the 27 January RITS outage reveals an uncomfortable truth: the plumbing that moves billions through Australia's financial system was felled by a forgotten digital credential.

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PayTo needs a facelift to compete with BECS: RBA

By Warwick Ponder, Editor

PayTo - Australia’s real time answer to direct debit - needs an urgent facelift if the industry hopes to convince consumers to move to real time payments en masse.

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Express Transit mobile confusion as Victorian myki tap trial kicks in

By Warwick Ponder, Editor

Easy access mobile payments for transit may be responsible for Victorian commuters accidently paying for fares twice.

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Pay.com.au's new CTO wants to turn $4.2 trillion in “dead payments” into rewards

By Alex Zaharov-Reutt, Technology Reporter

Dee Kulkarni on scaling a $633 million Australian fintech into the US, why indecision is the only bad decision, and the budget risk nobody's ignoring.

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Coinbase asks Senate for more on debanking

By Rachel St Clair, Reporter

As the government looks to introduce the Digital Assets Framework Bill to regulate crypto currencies in Australia, Coinbase remains concerned about the lack of a substantive solution when it comes to debanking.

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