PayDay News

The decline in cash has plateaued but for how long?

What the data tells us about levels of cash use in Australian retail payments, and where will it be in 10 years time?

Peter Drennan

GovernmentGovernment

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AUSTRAC eyes tougher onboarding for banks - passport or birth certificate requirement draws criticism from industry

Opening a bank account could be a lot tougher for Australians under proposed changes to laws intended to disrupt financial crime.

GovernmentGovernment

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MP urges Treasurer and RBA to act on blended debit card pricing

A Labor backbencher has written to the Treasurer and Reserve Bank of Australia demanding they close a “regulatory loophole” that enables payments service providers to charge “excessive” fees via blended rates.

PSPPSP

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RBA looking closely at “free” blended rates business model

The Governor of the Reserve Bank, Michele Bullock, says the marketing of blended card fees as a free service to merchants is an “unexpected consequence” of the current surcharging rules that is being carefully considered.

GovernmentGovernment

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Will Victoria's Open Loop transit be ready to roll in 2026, with 20k readers still on order?

The Victorian Government is upbeat about the rollout of debit and credit card Open Loop payments for its public transport services from next year, despite rumours that its contractor, Conduent, is up sale and tens of thousands of readers are still to be delivered.

PSPPSP

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Zeller claims 20k new customers while launching bank-like services for start ups

Payments Service Provider (PSP) Zeller reports it has grown its small business customer base to 85,000, while launching a range of bank-like products aimed at Australian start-ups and founders.

AIAI

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Adyen using AI to reduce fraud and costs for merchants

Adyen has announced an AI-powered payment optimisation suite which it claims will help businesses increase payment conversion, simplify fraud management, and reduce the cost of payments.

GovernmentGovernment

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Big Four banks and Citi get a guernsey in NSW bank tender – Fintechs and small banks to follow

The NSW Government has signed five year deals updating NSW’s banking and payments services, expanding on its multi-partner banking model to “deliver an increased depth in liquidity and financial strength”.

GovernmentGovernment

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CBA tightens grip on Aussie transit payments with NSW contract win

CBA will provide transit ticketing acquiring services for the NSW Government for at least another five years and will also support the State to deliver “new technologies for improved journey planning, payment and information access”.

GovernmentGovernment

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Citi retains NSW Government commercial card contract for 5 years

Citi has again been appointed as the provider of commercial cards for the New South Wales Government (NSW), promising to drive efficiencies through automation and reporting.

FinTechFinTech

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