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Rivals concerned as PEXA leverages monopoly to build lucrative data business
Electronic conveyancing monopoly PEXA (Property Services Australia Pty Ltd) is using the 54% margins on its platform revenue to buy up stakes in at least seven companies to build a valuable property sector data and valuations business, known as Digital Solutions, which its competitor claims could soon be worth up to $1 billion.
RBA not happy with BECS migration - wants better data on risks and end user costs
The Reserve Bank of Australia (RBA) has reiterated its concern about industry progress on decommissioning a platform that currently manages a range of Australia’s critical payments including social security, motor cars, salaries, pensions and bills.
Least cost routing finally enabled for some Google Wallet transactions
After more than five years of lobbying from Australian small business to reduce the cost of mobile transactions, eftpos functionality and least cost routing (LCR) is finally available for some Google Wallet mobile debit transactions in Australia.
PEXA outages plague Aussie property settlements amidst competition concerns
Australia’s monopoly electronic property settlement exchange platform PEXA (Property Exchange Australia LTD) appears to have seen off a potential probe by the competition regulator and handed a lengthy delay for network interoperability - and any real competition.
AP+ ramps up urgency around NPP transition with industry-wide initiative
With the 2030 deadline for the BECS shutdown rapidly approaching, Australian Payments Plus (AP+) has established an industry-wide steering committee to provide oversight and governance in the transition to New Payments Platform (NPP).