The cruel farewell to Australia’s humble eftpos-only card

Warwick Ponder
Editor
22 Oct, 2026
AP+’s small purchase interchange hikes sharpen a national payments pioneer’s decline, while banks narrow vulnerable customers’ choices and collect more dollars from a dying product.
The cruel farewell to Australia’s humble eftpos-only card

AP+’s small purchase interchange hikes sharpen a national payments pioneer’s decline, while banks narrow vulnerable customers’ choices and collect more dollars from a dying product.

Subscriber article

This article is available to PayDay News subscribers.

trending

Amid the controversy in Australia regarding CTF/AML compliance laws for subsidiary Bano, Australian banking as a service (BaaS) fintech Bolt Group is now issuing cards in Hong Kong
Convera has appointed four senior leaders with experience at PayPal, Zelle and Shopify to advance cross-border payments, foreign exchange risk management and payment services embedded directly in existing
PropertyMe is adding rental applications to its platform as it expands integrated payments and explores Digital ID and open banking tools to protect renters’ information.
AP+’s small purchase interchange hikes sharpen a national payments pioneer’s decline, while banks narrow vulnerable customers’ choices and collect more dollars from a dying product.
Securities regulator ASIC and the Reserve Bank have launched new consultations on crypto proposals that promise better protections for users but they could come at a cost for

RELATED STORIES ▸

Embattled Bolt now issuing cards in New Zealand and Hong Kong
Embattled Bolt now issuing cards in New Zealand and Hong Kong
Embattled Bolt now issuing cards in New Zealand and Hong Kong
Amid the controversy in Australia regarding CTF/AML compliance laws for subsidiary Bano, Australian banking as a service (BaaS) fintech Bolt ...
Partnership launches Asia-Pacific’s first unified fleet payments network
Partnership launches Asia-Pacific’s first unified fleet payments network
Partnership launches Asia-Pacific’s first unified fleet payments network
Amongst Asia-Pacific’s rapidly growing fleet payments ecosystem, where transaction volumes are estimated at $435 billion annually, WEX and Mastercard have ...
What ails NZ’s open banking savings opportunity?
What ails NZ’s open banking savings opportunity?
What ails NZ’s open banking savings opportunity?
New Zealand's Commerce Commission says Kiwi businesses could save $180 million a year by switching to pay by bank solutions ...
Thanks for the points: taxpayers and consumers pick up rewards bill via the RBA’s gaping fee loophole
Thanks for the points: taxpayers and consumers pick up rewards bill via the RBA’s gaping fee loophole
Thanks for the points: taxpayers and consumers pick up rewards bill via the RBA’s gaping fee loophole
The ATO’s credit-card reprieve exposes the corporate-card interchange loophole in the RBA’s reforms, rewarding points collectors while shifting acceptance costs ...
Consumers dump credit cards, but will the surcharge “ban” drive a reversal?
Consumers dump credit cards, but will the surcharge “ban” drive a reversal?
Consumers dump credit cards, but will the surcharge “ban” drive a reversal?
For the eight months to August 2026, Australians stopped using credit cards, paid down what they owed, and took out ...
Surcharge “ban” fury: the RBA was warned but ignored it
Surcharge “ban” fury: the RBA was warned but ignored it
Surcharge “ban” fury: the RBA was warned but ignored it
The surcharge backlash was foreseeable. Independent Payments Forum and PayDay News warned of merchant anger, financial pain and inflation risks, ...

Got a story to share?

Get in touch with PayDay News today!

Advertising Enquiry

Fill out the form below, and we will be in touch shortly.

Contact Information

Got a story to share

Fill out the form below, and we will be in touch shortly.

Contact Information