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
Visa ‘may have’ limited competition 11 March 2021 6:16AM Latest news John Kavanagh Global payments company Visa may have engaged in anti-competitive conduct in the Australian card payments market through its dealings with large merchants. read more
Eftpos expedites QR code rollout 25 February 2021 5:50AM Latest news George Lekakis Eftpos Australia will begin piloting a new Quick Response (QR) code payments platform in June, with a view to launching a national multi-channel transaction network next year. read more
St George adds fries and burgers to banking offer 29 July 2020 6:38AM Latest news George Lekakis Privacy issues dog St George Bank’s “cheeseburger and fries” promotion to encourage spending on its debit and credit card products. read more
Visa streamlines online payments 15 July 2020 6:21AM Latest news John Kavanagh Visa has introduced a new payment service in Australia, Click to Pay, which it says will simplify the online checkout process. read more
Card blitz for the elderly could stunt competition 30 April 2020 3:23PM Visa George Lekakis Advocacy groups have complimented regulators and the banking industry for taking steps to fast-track the issuance of debit cards to holders of passbook accounts marooned by the Covid-19 lockdown. read more
Banks acquire Virgin contagion 21 April 2020 4:50PM Payments, mobile & wallets Ian Rogers It's a rum business being an airline banker, and even crummier for two banks - NAB and Westpac - well and truly entwined with the collapse into administration last night of Virgin Australia. read more
Novatti a Visa issuer 17 April 2020 4:06PM Payments, mobile & wallets John Kavanagh Payments company Novatti has launched a Visa issuing business, working in partnership with European payments processor Decta. read more