Payments Forum on attack on interchange 02 December 2024 6:00AM Latest news Ian Rogers Interchange will be in the spotlight in the Reserve Bank of Australia’s upcoming review of payments fees and payments regulation. read more
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
ComCom favours drastic cuts to interchange 23 July 2024 10:15PM Latest news Ian Rogers Interchange fees in New Zealand may be slashed hard, if one of the preferred reform options outlined by the Commerce Commission ends up being adopted. 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
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
Former CBA and Westpac executive to lead Visa's Asia Pacific network 08 February 2023 5:34AM Latest news George Lekakis The Australian stranglehold on leadership roles in Visa’s Asia Pacific business is set to continue following the elevation of a former Westpac and CBA executive to the top management post in the regio.. read more
Acquisition crunches Visa's Aussie balance sheet 07 February 2023 5:50AM Latest news George Lekakis Visa’s Australian arm has acquired a large portion of the liabilities of the global card company’s underperforming UK subsidiary known as Fraedom Holdings. read more
China's UnionPay bothers Mastercard 26 August 2022 5:54AM Latest news Staff reporter Might BNPL yet crush the credit card business, or has the physical card already been replaced and we haven’t really noticed? read more
ACCC sues Mastercard for ‘misuse of market power’ 31 May 2022 6:37AM Latest news George Lekakis Mastercard is facing a drawn out legal battle over alleged anti-competitive pricing activity in the card payments market after the Australian Competition and Consumer Commission launched an civil acti.. 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
Latitude dumps loyalty programs 21 September 2021 5:53AM Latest news George Lekakis Latitude Financial faces a public backlash after a controversial decision to abandon the rewards programs attached to several of its Visa and Mastercard products. read more
Citi buyout will test NAB’s 'exclusive alliance' with Visa 10 August 2021 6:13AM Latest news George Lekakis National Australia Bank is set to stir strategic tensions with global card schemes Visa and Mastercard after revealing it would pay $1.2 billion to buy Citi Australia’s consumer banking assets. read more
Banks’ credit card balances dive 20 per cent 04 June 2021 5:08AM Latest news John Kavanagh The decline in credit card activity, which has prompted one commentator to describe the credit cards as a “legacy product”, has taken on serious proportions, with banks’ credit card balance falling by.. read more
LCR failings come back to bite the banks in payments merger review 03 May 2021 6:31AM Latest news John Kavanagh The Australian Competition and Consumer Commission has released 23 submissions to its review of the proposed amalgamation of BPAY, eftpos and NPPA, with the majority of them opposed to the merger. read more
eftpos Red roller tests banking 15 March 2021 7:01AM Latest news Ian Rogers Red apple peel or a Woolworths discard? eftpos, thinking big, are retooling branding amd imagery and a chance to stans clear of the 3-wau payments scheme merger going nowhere. read more