JP Morgan stirs payments pot 18 October 2024 6:08AM Latest news Ian Rogers Following its entry into Eftpos and the New Payments Platform, JP Morgan Australia is poised to enter the acquiring business. read more
Interchange, surcharging in strife as RBA payments review revs up 16 October 2024 5:58AM Latest news Ian Rogers The federal government expects banks and payments providers to voluntarily end surcharging on debit payments by the end of 2025. read more
Labor MP kicks off campaign for fee-free digital payment reform 20 August 2024 6:17AM Latest news Ian Rogers Jerome Laxale, the Labor MP for Bennelong and a member of the House Economics Committee yesterday announced the beginning of a “campaign for fee-free digital payment reform.” read more
Wallets, NFC in focus in RBA payments review 19 June 2024 12:50AM Latest news Ian Rogers Ellis Connolly, the Reserve Bank’s head of payments policy touched on every hot-button issue in online payments in a speech yesterday, one that foreshadows “a holistic review” on the Reserve Bank’s ap.. read more
Independent Payments Forum seeks a voice, and savings 06 June 2024 12:06AM Latest news Ian Rogers A clutch of opinionated voices have formed the Independent Payments Forum. They are Brad Kelly, Warwick Ponder, Russell Zimmerman, and Peter Drennan. A trio of influential small business associations.. read more
Quest rocks NSW payments 30 May 2024 3:03AM Latest news Ian Rogers In a vindication of one of the most patient disruption plays in domestic payments, Quest Payments has won a whole of government contract to supply payments devices and related support services across.. read more
Surcharge limits on the cards 02 April 2024 3:34AM Latest news John Kavanagh The Reserve Bank is open to the prospect of limiting the use of surcharging by merchants, with one option to prohibit surcharging on debit card transactions. read more
Cash rescues retailers from protracted ANZ Worldline outage 22 February 2024 6:08AM Latest news George Lekakis Thousands of retailers and professional service providers across the country were unable to accept card payments on Wednesday after a telecommunications outage paralysed merchant terminals operated by.. read more
NAB, ANZ Worldline mull Visa plan to slash interchange fees for small retailers 16 November 2023 5:47AM Latest news George Lekakis Two of Australia’s major banks are considering whether to offer discounted interchange fees for small businesses under a special program currently being rolled out by Visa. read more
New Visa program could be a turning point for debit fees paid by small retailers 15 November 2023 5:58AM Latest news George Lekakis Global card scheme giant Visa Inc has begun offering big incentives to some local small and medium sized retailers choosing to route their debit payments to its processing network. read more
Market share losses force Visa and Mastercard to lower fees 08 November 2023 4:49AM Latest news George Lekakis Exponential market share gains in online payments processing made by domestic debit scheme Eftpos appear to have induced price responses from Visa and Mastercard. read more
Eftpos growth and hefty tax benefit push AP Plus to $61m profit 02 November 2023 5:35AM Latest news George Lekakis Australian Payments Plus has revealed its debit payments processing subsidiary – Eftpos - is reclaiming market share from global giants Visa and Mastercard. read more
Card schemes give 'tying conduct' undertakings 21 June 2023 11:33PM Latest news John Kavanagh The Reserve Bank has made progress in its campaign to embed least cost routing in the Australian payments system, announcing yesterday that Visa and Mastercard have given undertakings that they will n.. read more
The contactless routing debacle 19 June 2023 8:27AM Latest news George Lekakis The failure of local banks to improve the efficiency of debit card processing for Australian merchants since 2017 has prompted the Reserve Bank to widen its payments reform agenda. read more
Westpac reveals heavy slug on merchants accepting debit payments on their iPhone 18 May 2023 4:29AM Latest news George Lekakis Westpac might be on a collision course with the Reserve Bank over its decision to introduce a flat rate charge of 1.4 per cent on merchants using their mobile phone as a payment terminal. read more
Pago aims to be QR payments queen 24 February 2023 4:44AM Latest news Ian Rogers The arrival of Pago Eftpos may prove a landmark in the taut world of payments. read more
Court orders publication ban on Mastercard evidence in ACCC debit card case 17 November 2022 6:12AM Latest news George Lekakis Mastercard has filed a formal statement of defence in the Federal Court action brought against it by the Australian Competition and Consumer Commission for alleged anti-competitive conduct in the debi.. read more
Australian Payments Plus reins in disclosure after loss 02 November 2022 6:22AM Latest news George Lekakis Australia’s largest native payments provider – Australian Payments Plus – generated a big surge in top-line revenue last year, but a costs blowout plunged the group to a negative bottom line result. read more
ABA says benefits of merchant routing are ‘inflated’ 13 April 2022 6:14AM Latest news George Lekakis The industry debate between banks and small business groups over merchant fees is set to escalate after the Australian Banking Association accused independent research firm - CMSPI - of “inflating” th.. read more
Eftpos boss departs as three-way payments merger takes effect 08 February 2022 5:43AM Latest news George Lekakis Eftpos chief executive Stephen Benton has announced his departure from the domestic payments service following the formal activation of Australian Payments Plus Ltd – the new holding company for the N.. read more