AP+

Australian Payments Plus

CashFinTechCBDCRegulationA2AReportingNPPAP+BECSChequeLCROpinionBanksMerchant FeesFeesAnalysisRBASurchargingcredit carddebit cardInflationMobile Wallet
FinTechFinTech
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Will a surcharge ban help big banks kill their competition?
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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.

A2AA2A
+3+3
Recurring bill payments to help boost NPP real time migration
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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.

AP+AP+
+2+2
Mobile soars with concerns over cost & competition
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Mobile soars with concerns over cost & competition

The Reserve Bank of Australia has released new data about the growth of mobile wallet card transactions, while also flagging concerns about costs and competition.