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Australian Payments Plus
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).
Least cost routing finally enabled for some Google Wallet transactions
After more than five years of lobbying from Australian small business to reduce the cost of mobile transactions, eftpos functionality and least cost routing (LCR) is finally available for some Google Wallet mobile debit transactions in Australia.
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).
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.
