Payments System & Regulation

• Ian Rogers

The leading cause of payments outages are issues with third parties, analysis by the Reserve Bank of Australia has found. read more

• Ian Rogers

The federal government expects banks and payments providers to voluntarily end surcharging on debit payments by the end of 2025. read more

• 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

• Ian Rogers

ASIC has approved a new version of the Australian Banking Association’s Banking Code of Practice. The new Code won’t commence until the end of February 2025. read more

• 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

• 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

• 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

Armaguard will need to be transparent and open its books to scrutiny, as the banks have long insisted, or there may be no further offers of financial support forthcoming from the industry. read more

• 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

• John Kavanagh

The Australian Taxation Office has conducted raids on business suspected of using, manufacturing or supplying electronic sales suppression tools to avoid paying tax, and it has issued a warning to bus.. read more

• Ian Rogers

Why not pay more if you want to? This is the both sensible and silly retort of banks at the very moment they are being outfoxed from every angle. Paying more turns out to cost more than $100 million... read more

• John Kavanagh

Providers of low cost credit contracts, including buy now pay later companies, will have to hold a credit licence and comply with modified responsible lending obligations under proposed changes to the.. read more

• John Kavanagh

The Global Legal Entity Identifier Foundation has approved Commonwealth Bank as Australia’s first validation agent for the Global Legal Entity Identifier System. read more

• Ian Rogers

Apple may be the focus of regulatory intervention threatened by the Payments System Board. read more

• Ian Rogers

One of the biggest stoushes in Australian banking in a long, long time is approaching its crescendo, as the RBA steps up to oversee industry conversations around the economics of cash-in-transit and t.. read more

• John Kavanagh

A priority for the payments industry in 2024 will be getting started on the transition of all domestic direct entry electronic payments from the Bulk Electronic Clearing System to the New Payments Pla.. read more

• John Kavanagh

The Minister for Financial Services Stephen Jones has backed calls to put some “friction” back into the retail payments system to enable more effective fraud detection. read more

• George Lekakis

Commonwealth Bank has handed itself an early Christmas present that could potentially shield it against expensive compensation claims from business customers who suffer financial losses during banking.. read more

• Lynn Grieveson

Reserve Bank governor Michele Bullock has warned that the central bank may use its payments system regulatory powers to speed-up the rollout of least cost routing to merchants, saying progress has bee.. read more

• John Kavanagh

The Albanese government has put a use-by date of 2030 on the Australian cheque system, with the issuance of bank cheques to end in 2025 and personal cheques in 2027. read more