News about card payments, including debit, credit and pre-paid cards
The ACCC prefers to do nothing when state and federal government agencies such as Transport for NSW enter deals that stifle competition in the payments industry.
Regulation
+2
The RBA released its retail payments data as at June 2025 on August 7, showing declines in in-store credit card spending and New Payments Platform (NPP) growth moderating.
Cash
Quest Payment Systems has partnered with Coles Group to update its payment terminal fleet across more than 2,000 supermarkets and liquor outlets in Australia.
Fintech
+1
Free digital payments campaigner Jerome Laxale MP is returning to the Standing Committee on Economics, alongside the new Chair and former Industry and Science Minister, Ed Husic.
+3
The Reserve Bank’s inaction on blended rate plans and its unwillingness to strengthen collective bargaining with banks have narrowed strategic options for small businesses.
Merchant Service Fees
Australian payments provider Tyro is partnering with Belgian business management software outfit Odoo to provide an all-in-one payment experience for small businesses and their customers in Australia.
Facing hugely profitable and highly litigious Visa and Mastercard regulator chose to pull its punches
New Zealand's Commerce Commission has retained a zero debit interchange option for merchants, continued card surcharging and reduced other interchange fees for businesses accepting Visa and Mastercard payments.
The Reserve Bank of Australia has announced an intention to reduce credit interchange from a cap of 0.80% to 0.30%. The move has been welcomed by merchants across the nation who have for decades unwittingly subsidised rewards programs for the banks.
Publication of the RBA’s payments roadmap put Tyro’s share price under pressure on Tuesday, but the business fallout will be more widely distributed in the payments sector.
+4
Small business groups say the RBA’s proposed reforms won’t bring down card fees anywhere near as much as anticipated, and consumers will end up paying higher prices.
The Australian payments system is wrestling with a multi-pronged crime problem: trying to clean up old-fashioned ATMs and point of sale (POS) terminals in illegal tobacco and vape stores, while struggling to corral a new breed of crypto ATMs that are quietly multiplying and also attracting criminals.
Struggling merchant payments provider ANZ Worldline Payment Solutions posted a record loss of $68.9 million in the 12 months to the end of December.
Banks
Credit card spending just hit a two-year high, but the real story isn't about consumers. It's about businesses on the brink.
With its future under the cloud of a languishing share price, US rivals looking to Australia for acquisitions, and the RBA set to up end its business model, Tyro is vowing to go it alone.
Visa and Mastercard's interchange fees infringe competition law, a London tribunal has ruled in the latest round of the ongoing legal battle.
When the Reserve Bank of Australia (RBA) kicks off its consultation on the Review of Merchant Card Payment Costs and Surcharging next Tuesday, Australia will have three big payments consultations running in tandem. Why?
With a series of heavy-duty acquisitions, Shift4 is poised to enter the Australian market with serious capabilities and a ready-made customer base.
Visa has started informing clients about two upcoming scheme fee hikes, PayDay News understands.
Peter Barrass is one of ANZ’s most successful technology executives after he engineered an overhaul of the group’s institutional payments arm. The bank has now tapped him to join the board of its ailing merchant payments joint venture with Worldline.
Supermarket giant Coles is preparing to ramp-up promotion of Coles Pay as its new digital wallet, marking a strategic shift in its digital payment offerings.
Digital & Online
Australia’s fastest-growing debit card issuer – Macquarie Bank – may have to overhaul parts of its business if the Reserve Bank tightens debit card regulation later this year.
Federal Treasurer Jim Chalmers has ducked for cover after his office was asked to explain why taxpayers are wearing the cost of government agencies only being able to accept online debit card payments processed through the Visa and Mastercard networks.
Almost 50% Aussies have adjusted their drinking habits due to cost-of-living pressures but Gen Zs are willing to pay more for coffee and beers, according to a new Tyro survey.
The world’s biggest bank, US mega bank J.P. Morgan, has joined the Board at Australian Payments Plus (AP+) as it becomes more entrenched in Australian payments.
A2A
