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LATEST STORIES

57% of Aussie corporates unaware of BECS “2030+” shutdown: CBA research

57% of Aussie corporates unaware of BECS “2030+” shutdown: CBA research

New CommBank research suggests the majority of Australian corporates are unaware that the industry is planning to decommission the Bulk Electronic Clearing System (BECS) by “2030+”.

Digital & Online

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ANZ Worldline gets tough on illegal tobacco as AUSTRAC targets banks and PSPs

ANZ Worldline gets tough on illegal tobacco as AUSTRAC targets banks and PSPs

“Just like the banks, payment platform providers should already be alive to the risks of illicit tobacco profits and consider who they are providing services to and how much risk they carry,” AUSTRAC.

Fintech

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CBA cries foul after receiving Shonky Award for “unfair fees”

CBA cries foul after receiving Shonky Award for “unfair fees”

CommBank is sending its shonky award for “unfair fees” back to CHOICE, after revealing it has paused fees for “eligible concession customers” and had spent $25 million on goodwill payments.

Banks

Credit card growth overtakes debit as interest-bearing balances hit four-year high

Credit card growth overtakes debit as interest-bearing balances hit four-year high

Annual growth in credit cards has overtaken annual growth in debit cards for the first time since August 2023, ending two years of stronger debit card growth.

Enter the magic “plus”, Cuscal’s catwalk, SMEs redefined and Block’s tumble

Enter the magic “plus”, Cuscal’s catwalk, SMEs redefined and Block’s tumble

On The Interchange Bench this week, the BECS closure date gains a magic “plus”, as Cuscal execs take to the catwalk, the ABA redefines SMEs (again), Block takes a tumble and Amazon missteps on 11 November marketing.

The Interchange Bench

Financial counsellors remain concerned about BNPL impact, as online transactions climb

Financial counsellors remain concerned about BNPL impact, as online transactions climb

Consumers could be digging themselves into deeper debt using Buy Now Pay Later (BNPL) to pay for essential items say financial counselling experts, as new PayPal research shows one-in-three Australians are using BNPL for online payments.

Fintech

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