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60,000 cards may be impacted by eftpos mobile glitch on New Year’s Eve
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60,000 cards may be impacted by eftpos mobile glitch on New Year’s Eve

Banks are asking 60,000 consumers to delete and reload their debit cards in mobile wallets, to ensure they still work from News Year’s Day.

NPPNPP
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ANZ launches "ultra-fast" global payments via NPP
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ANZ launches "ultra-fast" global payments via NPP

ANZ has announced the expansion of ANZ Express Payments, with inbound cross-border payments from all AUD Clearing Services customers, up to AUD$500, now processed in near-real time, 7 days a week.

RegulationRegulation
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Fees charged by card schemes under increased regulatory scrutiny around the world
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Fees charged by card schemes under increased regulatory scrutiny around the world

The giants of the payment card industry, Visa and Mastercard are under an intensifying spotlight in a range of jurisdictions, including the UK, EU and Australia, with a key focus on the opaque scheme fees these companies dictate to banks and merchants. At least 80% of these fees are borne by merchants.

CashCash
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Get some rest during the holidays because 2025 will be a big year for payments
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Get some rest during the holidays because 2025 will be a big year for payments

Some well-earned rest may be needed for payments industry executives and policy boffins over the holidays, before they face a very busy 2025.

CashCash
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Mobile payments used to be less 'painful' than using cash. That might be changing.
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Mobile payments used to be less 'painful' than using cash. That might be changing.

The act of handing over hard-earned cash has long been associated with pain. And historically, research has also found that consumers tended to spend less using cash rather than a payment card.

credit cardcredit card
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payFURL partners with Mastercard to launch comprehensive suite of innovative payment solutions
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payFURL partners with Mastercard to launch comprehensive suite of innovative payment solutions

payFURL has partnered with Mastercard to support the roll-out of three cutting-edge, innovative payment solutions in Australia: Mastercard Click to Pay, Mastercard Secure Card on File and Mastercard Payment Passkeys Service.

CashCash
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Services Australia dumps foreign cheques and money orders
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Services Australia dumps foreign cheques and money orders

From December 19, Services Australia will no longer accept foreign currency cheques or international money orders.

RegulationRegulation
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Westpac backs scheme fee cap and dissecting blended pricing
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Westpac backs scheme fee cap and dissecting blended pricing

Westpac has taken aim at the “complex” fees charged by card schemes like Visa and Mastercard, as well as controversial “blended” pricing plans imposed on many small businesses, in a comprehensive response to the Reserve Bank of Australia’s inquiry into merchant fees and surcharging.

RegulationRegulation
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High card fees for small business under attack in RBA review
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High card fees for small business under attack in RBA review

The urgent need to reduce card fees for Australian small business was a strong theme in early submissions to the Reserve Bank of Australia’s inquiry into card fees and surcharging this week.

RegulationRegulation
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BNPL legislation gets up, while other payments reform still in limbo until 2025
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BNPL legislation gets up, while other payments reform still in limbo until 2025

Buy Now Pay Later (BNPL) reform has passed through the Parliament, while other key payments legislation will not be dealt with until 2025.

CashCash
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CBA slammed for new cash withdrawal fee at branches and post offices
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CBA slammed for new cash withdrawal fee at branches and post offices

The Assistant Treasurer has lashed out at the Commonwealth Bank’s decision to charge some customers $3 for withdrawing cash at its branches and post offices or over the phone.

RegulationRegulation
+2+2
Feds to ban some departments from debit surcharging following review into legality
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Feds to ban some departments from debit surcharging following review into legality

The Federal Government today announced it will stop passing on debit surcharges from the ATO and Services Australia from 1 January 2025.

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