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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).
Banks and the cost of doing business
Another day, and another “challenge” for the banks. NAB CEO and Australian Banking Association Chair (ABA), Andrew Irvine sat down for a panel discussion at the Trans-Tasman Business Circle Annual Economic Forecast event last Friday and lamented the cost of cash, saying “cash is viewed as free and digital payments are viewed as having a surcharge. This is actually the wrong pricing signal because the cost of a digital payment versus a physical payment is much, much lower.”
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.
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”.
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”.
