Briefs: CBA to replace financial measures for tellers, Propay on the way
Commonwealth Bank will move approximately 2000 "customer service representatives", also known as tellers, to a new remuneration plan, based on "contribution to providing superior customer service". Any links to financial measures have been abolished, the bank said in a statement this morning. These new measures will be backdated to 1 July 2017, the start of the current CBA performance period, as the bank scrambles to implement all Sedgwick Review recommendations ahead of the 2020 deadline. In addition, close to 200 Bankwest branch tellers will also move onto a customer-focused remuneration structure from 1 October 2017, the start of the Bankwest performance period. Payments providers will have yet another foreign competitor to contend with, after an announcement by US company ProPay that it will offer its "comprehensive merchant solution for small businesses, e-commerce and direct selling companies" in Australia. ProPay has an established home base in the US and Canada, and is bringing merchant acquiring payment network, with a process that allows SMBs to set up and begin accepting payments "within minutes" via a platform that acts as an online "virtual terminal". It claims to have capability to securely store sensitive card information for repeat purchases.