Payments companies from CBA to Westpac to ANZ Worldline may be enabling criminal gangs with illegal tobacco sales

By Michael Sainsbury, Senior Business Correspondent

“Our message is clear: if you profit from illicit tobacco in Australia, you are operating illegally,” says Home Affairs Minister Tony Burke.

ANZ and Everyday Rewards team up as interchange storm rages

By Rachel St Clair, Reporter

In the midst of fierce debate about the future of credit card rewards programs and interchange, ANZ and Woolworths Group’s Everyday Rewards have announced a new loyalty partnership.

Magic pudding rewards, while interchange shenanigans hinges on “small business” definition

This week on The Interchange Bench, Treasury and banks are at odds over definitions of a “small business’ while rewards announcements abound, more digital outages cause headaches for consumers and BNPL companies make hay in a wild west US.

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Medicines and government services don’t qualify as “essential” under draft cash mandate rules

By Warwick Ponder, Editor

Only fuel and groceries have been classified as “essential purchases” under draft regulations released for comment on Friday, with medicines, government services and clothing among items failing to qualify.

Regional disadvantage key in cash submissions, but major players keep their views secret

By Gabby Taylor

After eight months in seeming purgatory, the mandating cash acceptance submissions are now available for viewing, but with major banks and retailers missing, it’s hard to decipher whose opinions on cash Treasury values.

The quiet sunset of eftpos-only prop cards

Commentary by Michael Sainsbury, Senior Business Correspondent

Banks are removing eftpos-only “prop” cards and the nation’s fastest growing card issuer Macquarie has an eftpos exemption casting a further shadow over least-cost routing.

RBA stats on surcharging still not adding up

Commentary by Gabby Taylor

There is a lot of debate around the surcharge ban in Australia. The Reserve Bank (RBA) claims only 10% of small businesses surcharge, but many are sceptical of that figure. If the RBA is wrong, a ban on surcharging can have serious implications for consumers, businesses and payment service providers.

CBA, Westpac and ANZ lead the pack on branch closures

By Warwick Ponder, Editor

The Commonwealth Bank closed the most bank branches in the 12 months to July 2025, followed by Westpac and ANZ, according to the latest APRA numbers.

Distrust in major banks gives leg up to new payment types because “everything’s too expensive”

By Rachel St Clair, Reporter

Around 40 percent of Australians express distrust towards the major banks, while “the cost of living crunch does not discriminate”, according to new research from Nielsen Consumer & Media View (CMV).

Crypto ATM crackdown

By Rachel St Clair, Reporter

The government has announced it's drafting legislation to target a crackdown on crypto ATMs that may see the machines, which buy cash to sell crypto currency, restricted or banned.

CBA adopts QR cardless cash at ATMs to increase security

By Staff Reporter

CBA has replaced Cashless Card and Cardless Deposits using mobile phone numbers with a QR solution in an effort to reduce financial crime.

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