Briefs: Penal rates stay, MasterCard to launch e-wallet

Several banks have decided to drop plans to reform their industrial awards to define work on Saturday afternoons and Sundays as ordinary time, Fairfax Media reports. A directions hearing was due to be held today by Fair Work Australia on the application.

MasterCard yesterday announced plans to launch an electronic wallet that will operate on smartphones, tablets and computers. PayPass Wallet, which will allow users to pre-load their payment and delivery details for faster transactions, will be launched in the September quarter. JB Hi-Fi, American Airlines, Commonwealth Bank and Westpac will be the initial local partners.