Briefs: Cuscal 'stable', APRA funds hiked 06 November 2018 4:43PM Banking Day staff Briefs, Finance regulation, Payments, mobile & wallets, Ratings agencies Cuscal's strategic reset as an almost pure payments business and its leading role in making the New Payments Platform a reality has won the notice of Standard & Poor's. S&P yesterday said it revised its outlook on Cuscal to stable from negative, and affirmed its A+ long-term and A-1 short-term ratings on the company. It's market share of EFT processing in Australia stands at about 20 per cent, with Cuscal a service provider to more than 100 entities, "including a significant portion of Australian financial institutions." APRA will get a boost in funding over the next four years of around 10 per cent, the treasurer, Josh Frydenberg, announced yesterday. He said "the new funding, as well as the reappointment of Wayne Byres [as APRA chair for five years] and the [recent] appointment of a second deputy chair -John Lonsdale - will support APRA in developing a stronger focus on accountability and enforcement in the financial system."