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IPF urges immediate action to protect critical payments following damning BECS migration assessment
The payments industry must take immediate steps to protect and regulate fees on critical payments like wages, superannuation, health, welfare and pensions that are being migrated from the aging Bulk Electronic Clearing System (BECS), according to a new report by Independent Payments Forum Australia (IPF).
Christian Westerlind Wigstrom - the new kid in town on the AusPayNet Board
In a turbulent time for payments, Christian Westerlind Wigstrom, Co-founder and CEO of Monoova, has been appointed as alternate Director to the Australian Payments Network (AusPayNet), the self-regulatory body for Australia's payments industry.
Will a surcharge ban help big banks kill their competition?
A lucrative part of the fintech sector that provides competition to Australia’s dominant banks in payments has been upended by the Albanese government’s intention to put an end to rising debit card fees (and surcharging), and a looming Reserve Bank of Australia (RBA) review.
Recurring bill payments to help boost NPP real time migration
Shifting enterprise and recurring bill payments to the New Payments Platform (NPP) forms part of a plan to accelerate the migration of transactions onto the real time network, as the industry races towards the proposed closure of the Bulk Electronic Clearing System (BECS) in 2030.