Remittance Networks

• Ian Rogers

Wise is emerging as a challenger to take notice of in Australian banking. read more

• John Kavanagh

ASIC has commenced proceedings against PayPal Australia, alleging that its contract terms relating to errors in fees are unfair. read more

• George Lekakis

A blowout in the cost of services provided by its Singapore-based parent company underpinned a slide in profit at PayPal Australia Pty Ltd in 2022. read more

• John Kavanagh

PayPal Australia is undertaking “extensive” remedial work on its reporting of international funds transfers, in response to AUSTRAC concerns about the company’s systems, controls and governance in thi.. read more

• John Kavanagh

Four people involved in running remittance businesses have received prison sentences for fixing foreign exchange rates and fees – an Australian competition law first. read more

• George Lekakis

An apparent fall in some operating costs and increased customer transaction activity drove PayPal’s Australian subsidiary to a record bottom line profit last year. read more

• John Kavanagh

Foreign exchange company OFX has flagged results for the year to March that will show a strong recovery from the COVID-related fall in revenue and earnings in its 2020/21 financial year. read more

• Banking Day staff

American Express has teamed up with PayPal in Australia in a deal that will allow Amex card holders to use their Membership Rewards points for PayPal purchases. read more

• Ian Rogers

In candid terms, Reserve Bank governor Philip Lowe has told parliament that “the banks are very scared of making mistakes on the AML front.” read more

• John Kavanagh

Western Union has upgraded its partnership with Australia Post, launching a digital transfer option to sit alongside the post office service that has operated for the past 17 years. read more

• John Kavanagh

Austrac has issued an alert to banks and their customers warning that a form of money laundering called “cuckoo smurfing” is becoming more prevalent, warning that and they need to be more diligent in.. read more

• Banking Day staff

ANZ has promoted its head of resources, energy and infrastructure, Paul Orton, to the role of group general manager internal audit. read more

• Banking Day staff

BNP Paribas Securities Services has appointed Sam Meares to head up its banking services operations for Australia and New Zealand. read more

• Banking Day staff

ASIC will not take its pursuit of Westpac over the bank’s alleged responsible lending failures any further, announcing yesterday it will not seek special leave to appeal to the High Court over the mat.. read more

• Banking Day staff

Fitch Ratings has affirmed Heartland Group’s and Heartland Bank’s long-term issuer default ratings at BBB and the long-term IDR of Heartland Australia at BBB-. read more

• George Lekakis

AUSTRAC has ordered an external audit of PayPal Australia's compliance with financial crime laws amid concerns that the payments platform has been exploited by child sex rings over the internet. read more

• George Lekakis

Startup financial services provider Volt bank has negotiated a strategic hook up with global online payments player, PayPal. read more

• Banking Day staff

Deutsche Bank has been fined US$205 million for violating New York banking law in its foreign exchange trading business. read more

• George Lekakis

Freelancer.com has secured regulatory approval to offer transaction services in Australian dollars through its global custodial payments arm. The ASX-listed company is already one of the leading inter.. read more

• Banking Day staff

Swedish biometrics company, Fingerprint Cards, along with IDEMIA, an "augmented identity" provider, are set to run Japan's first biometric payment card trial. Using Fingerprint's sensor technology in.. read more