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PayDay News | Australian Payments News

LCR

News about least-cost routing (LCR) and its adoption in the Australian payments space.

Merchant fees hit record highs as card spending surges

Merchant fees hit record highs as card spending surges

Visa and Mastercard credit card merchant fees both reached 0.99% in the March quarter - the highest levels on record - while ...
Cash still growing as ATM withdrawals hit a six-year high and debit surges

Cash still growing as ATM withdrawals hit a six-year high and debit surges

ATM withdrawals reached $9.3 billion in February, the highest single month since July 2020 when $9.7 billion was withdrawn. It is the ...
As Stripe invests in Sydney Hub, is CBA about to eat its lunch?

As Stripe invests in Sydney Hub, is CBA about to eat its lunch?

While the increasingly pervasive US payments platform Stripe was busy announcing a new Sydney engineering hub in early March, Australia's biggest bank ...
Blended rates, fintech carve-outs and a trillion-dollar gatekeeper: who really pays?

Blended rates, fintech carve-outs and a trillion-dollar gatekeeper: who really pays?

Australia's parliamentary payments inquiry stripped back the complexity to expose three uncomfortable truths: small businesses are subsidising the system, fintechs want exemptions ...
ParliPay – hours of action-packed TV with a pinch of fiction

ParliPay – hours of action-packed TV with a pinch of fiction

Last week I spent two days watching the parade of banking and payment seniors strut their stuff in Canberra at the House ...
“Monopoly” schemes and blended rates killing retail payments competition, says committee

“Monopoly” schemes and blended rates killing retail payments competition, says committee

A parliamentary inquiry into card schemes and digital wallets has labelled the dominance of US card schemes in Australia a “monopoly”, while ...
CBA buys in Dynamic Least-Cost Routing and outage resilience with IPSI

CBA buys in Dynamic Least-Cost Routing and outage resilience with IPSI

The country’s biggest bank will be able to offer customers Dynamic Least-Cost Routing (DLCR) and improved outage resilience by year end, after ...
Massive year in payments but 2026 looms even larger

Massive year in payments but 2026 looms even larger

There will be little rest for the payments industry this summer, as businesses, regulators and lawmakers get ready for a raft of ...
Blockley hangs up his payments consulting hat

Blockley hangs up his payments consulting hat

After 37 years of consulting for some of the nation’s biggest banks and global card schemes, the big end of town’s gun ...
Magic! Your debit fees just transformed into higher credit

Magic! Your debit fees just transformed into higher credit

Turning debit into higher credit fees has always been the Holy Grail to boost issuer revenue. Visa may have finally found it, ...
Mastercard wins right to challenge privilege ruling as ACCC case heats up

Mastercard wins right to challenge privilege ruling as ACCC case heats up

An ACCC win that would allow it access to more of Mastercard’s internal documents in its three and a half year battle ...
As ANZ Worldline moves on LCR, are Suncorp and Shift4 in its future?

As ANZ Worldline moves on LCR, are Suncorp and Shift4 in its future?

With the ANZ acquisition of Suncorp leaving the future of its acquiring business uncertain and Shift4 buying up big parts of Worldline ...

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