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With no consensus on card fees and surcharging, will the public interest prevail?

Commentary by Gabby Taylor

If the Reserve Bank wants consensus on its proposal for merchant fees and surcharging, it’s a lost cause. The best the central bank can hope for is a decision in the public interest, leveraging strong sentiment on issues such as scheme fees, least-cost routing and the burden on small business.

Putin’s China pitch amps up the scramble for new payment rails

By Michael Sainsbury, Senior Business Correspondent

Vladimir Putin’s call for a new payments system free of Western control comes as sanctions on Russia and China’s ambitions converge with a surge of new global domestic and regional networks.

Soaring merchant fees stoke boom in payments advisers

By George Lekakis, Senior Banking and Financial Services Correspondent

The opacity of merchant fee pricing across the globe is spawning a wave of litigation and burgeoning demand for payments experts. One of the world’s largest merchant advisory groups, BB Merchant Services, says it is expanding its presence in the Australian market.

Apple Pay pushes take up at Woolies amid concerns about hidden fees

By Staff Reporter

Apple Pay has taken out paid advertising at Woolies checkouts to further push up its market share, amid serious concerns from banks that hidden fees are adding significant cost to Australia’s payments system.

Westpac adopts Mastercard’s new virtual card via Oracle

By Rachel St Clair, Reporter

Mastercard has launched a new virtual card option for Australia corporates, with Westpac becoming the first to activate the solution for clients using Oracle Fusion Cloud Enterprise Resource Planning (ERP).

Same old crowd for first A2A vision roundtable ... but end users to get a say soon

By Staff Reporter

A closed shop of industry and government representatives has held the first in a series of account-to-account (A2A) payment roundtables, but end users are expected to get their turn soon.

New Shopify app reduces impact of parcel deliveries at checkout

By Staff Reporter

Australian EcoTech company Sphere has launched a new app that helps Shopify retailers and their customers reduce the impact of parcel deliveries when making a payment at the checkout.

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