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The Reserve Bank of Australia will not bow to pressure to delay its inquiry into surcharge and card fees, but instead appears to be preparing to deliver the banks a win on interchange.
Merchant Service Fees
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New PEXA CEO Russell Cohen has bulked up his executive team and cleaned house as he prepares for more government and regulatory scrutiny.
Digital & Online
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Cryptocurrency exchange company, Coinbase Australia, has appointed former CommSec Executive Manager Adam Judd as Chief Operating Officer ahead of big changes to the regulatory landscape.
Fintech
When Jon Davey leaves Tyro’s head office for the last time on Friday, the company’s CFO Emma Burke will temporarily take charge of one of the nation’s biggest acquirers for a critical five-week period – the annual peak payments period over Christmas and the Boxing Day sales.
NAB just became Australia’s biggest card issuer with the completion of the Citibank migration, and now it wants relief on the Reserve Bank’s proposed interchange cuts.
Banks
It’s clear the RBA knows exactly what it wants in a new A2A Payments Hub build. It has ruled out consortia or any alternative network designs, possibly leaving only a few players who can fit the bill.
Regulation
