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Merchant FeesMerchant Fees
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A cool $6.4 billion evaporates in cloud of merchant fee mystique
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A cool $6.4 billion evaporates in cloud of merchant fee mystique

Businesses incurred $6.4 billion in annual merchant fees just for accepting debit and credit cards during the 2022/2023 fiscal year across Australia, but it is almost impossible to track where all the money went.

FinTechFinTech
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TNS takes reigns of “secure, stable and efficient” COIN
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TNS takes reigns of “secure, stable and efficient” COIN

The migration of the underlying network of COIN (Community Of Interest Network) from Telstra to Transaction Network Services (TNS) is now complete, according to TNS.

CashCash
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Government to mandate cash for essentials, while phasing out cheques
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Government to mandate cash for essentials, while phasing out cheques

The Albanese Government this week announced it was taking action so Australians can continue to pay with cash for essential items if they want to, while also ensuring an orderly transition to phase out cheques.

Monthly Payments Data Report
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Monthly Payments Data Report

The RBA released it's Retail Payments data as at September 2024 on the 7th of November, including key quarterly stats on Merchant Fees. Here are the latest results.

RBA Governor says options on surcharging expected mid-2025
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RBA Governor says options on surcharging expected mid-2025

The Governor of the Reserve Bank of Australia (RBA) Michele Bullock today said card surcharging is a “complicated topic” and the Bank intended to publish its recommendations about whether or not to ban the practice by mid-2025 after “proper consultation”.

Debit fees remain static despite interchange caps and massive volume increase
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Debit fees remain static despite interchange caps and massive volume increase

Average debit transaction fees have remained static over the past 10 years, despite regulatory intervention to reduce costs in the form of interchange caps, and a massive increase in volume.

A brief history of heavy lifting in Aussie Payments
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A brief history of heavy lifting in Aussie Payments

Some of the challenges we face in payments today pale into insignificance when we look at the history of our industry in Australia.

Zepto partners with Stake on recurring investment deposits using PayTo
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Zepto partners with Stake on recurring investment deposits using PayTo

Zepto has announced a partnership with online investment platform Stake to help facilitate its Recurring Investment product via PayTo over the New Payments Platform (NPP).

Bank outages put cash in the spotlight
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Bank outages put cash in the spotlight

As the average duration of system outages continues to blow out, Australian banks are facing a backlash from retail and business customers over the perceived instability of their digital banking platforms and payments channels.

CBDCCBDC
RBA explores wholesale CBDC, while a retail option is put on ice for now, report
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RBA explores wholesale CBDC, while a retail option is put on ice for now, report

No clear public interest case to issue a retail central bank digital currency (CBDC) has yet to emerge in Australia, while a wholesale offering is more promising, according to a new report from The Reserve Bank of Australia (RBA) and Treasury.

SurchargingSurcharging
ACCC weighs in on surcharging ... wait, what?
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ACCC weighs in on surcharging ... wait, what?

After only using its current powers to stop excessive card surcharging a handful of times since the rules were introduced in 2016, ACCC Chair, Gina Cass-Gottlieb, has described the issue as “complex” in the context of the Australian payments system.

Merchant FeesMerchant Fees
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Canberra coy on legality of its pricey debit card surcharges, after announcing merchant ban
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Canberra coy on legality of its pricey debit card surcharges, after announcing merchant ban

Two weeks after the Albanese government vowed to crack down on merchant surcharges on debit cards, it won’t say whether Commonwealth departments and agencies are breaking the law by levying citizens with those same surcharges - some of which are among the highest fees for big merchants in market.

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