Banks may backtrack on Armaguard support 02 April 2024 3:46AM Latest news Armaguard will need to be transparent and open its books to scrutiny, as the banks have long insisted, or there may be no further offers of financial support forthcoming from the industry. read more
Surcharge limits on the cards 02 April 2024 3:34AM Latest news John Kavanagh The Reserve Bank is open to the prospect of limiting the use of surcharging by merchants, with one option to prohibit surcharging on debit card transactions. read more
Debenture decision all backwards 15 March 2024 5:13AM Latest news Ian Rogers In a decision that seems unlikely to stand, the Federal Court has found that Finder Wallet Pty Ltd’s crypto product Finder Earn is not a debenture. read more
ATO warns business on POS sales suppression tools 15 March 2024 5:10AM Latest news John Kavanagh The Australian Taxation Office has conducted raids on business suspected of using, manufacturing or supplying electronic sales suppression tools to avoid paying tax, and it has issued a warning to bus.. read more
Armaguard convinces banks on price support 14 March 2024 3:13AM Latest news Ian Rogers Why not pay more if you want to? This is the both sensible and silly retort of banks at the very moment they are being outfoxed from every angle. Paying more turns out to cost more than $100 million... read more
Scam losses fall 14 March 2024 3:11AM Latest news John Kavanagh Reports of scam losses to the ACCC’s Scamwatch service declined in the December quarter, with decreases in all the common forms of scam activity. read more
BNPL draft bill released 13 March 2024 5:16AM Latest news John Kavanagh Providers of low cost credit contracts, including buy now pay later companies, will have to hold a credit licence and comply with modified responsible lending obligations under proposed changes to the.. read more
Call for Australia to follow NZ and Singapore scam reimbursement plans 11 March 2024 3:49AM Latest news John Kavanagh Consumer groups and community legal centres have renewed their call for financial institutions to be liable for their customers’ scam losses, following a move by the New Zealand government to require.. read more
Credit card holders pay down their balances 08 March 2024 4:33AM Latest news John Kavanagh Spending on credit and charge cards increased ahead of overall household spending over the past year but card users have their consumer debt under control, with balances accruing interest coming down. read more
CBA accreditation opens the local market for LEI development 04 March 2024 3:44AM Latest news John Kavanagh The Global Legal Entity Identifier Foundation has approved Commonwealth Bank as Australia’s first validation agent for the Global Legal Entity Identifier System. read more
Cuscal cuts payout ratio 01 March 2024 5:45AM Latest news Ian Rogers Cuscal has reported a December 2023 half year net profit of A$13.7 million, up five per cent from the prior period, and is distributing $6.1 million to shareholders as an interim dividend. read more
PSB poised to regulate mobile wallets 01 March 2024 5:43AM Latest news Ian Rogers Apple may be the focus of regulatory intervention threatened by the Payments System Board. read more
Financial services data breaches fall 29 February 2024 3:41AM Latest news John Kavanagh A fall in data breaches reported by the financial services industry last year suggests the work by banks and other financial institutions to improve cyber security is starting to pay off. read more
EML delays CEO appointment 29 February 2024 3:39AM Latest news John Kavanagh EML Payments has extended the contract of interim chief executive Kevin Murphy until the end of June as it works through the restructuring of the group. read more
Zip looking for growth opportunities again 28 February 2024 5:38AM Latest news John Kavanagh Product development is back on the agenda at a more growth-focused Zip Co, following the company’s success in turning its fortunes around over the past year. read more
Afterpay Blockheads running on empty 26 February 2024 5:07AM Latest news Ian Rogers Afterpay looks an afterthought in Australian payments, and that may well be its fate in the US too. read more
QuickFee's lending business takes off 23 February 2024 5:34AM Latest news John Kavanagh Payments company QuickFee enjoyed substantial growth in its lending division in the December 2023 half, driving higher revenue and margins. read more
Cash rescues retailers from protracted ANZ Worldline outage 22 February 2024 6:08AM Latest news George Lekakis Thousands of retailers and professional service providers across the country were unable to accept card payments on Wednesday after a telecommunications outage paralysed merchant terminals operated by.. read more
Afterpay promises to reverse late fees after system malfunction 21 February 2024 6:04AM Latest news George Lekakis, John Kavanagh Afterpay customers have been hit with late fee notifications after a systems failure resulted in direct debit transactions not being processed by the company. read more
Tyro contract dispute settled 19 February 2024 4:03AM Latest news John Kavanagh A former agent of Tyro Payments, Kounta Pty Ltd, has agreed to withdraw legal action against Tyro and pay substantial damages. read more