Latest news and insights on banking and finance in Australia and New Zealand, as delivered in the daily 7am Banking Day email news service (subscribe or take out a free trial).
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Eftpos reversal on the cards
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10 September 2004 12:00amAs to what style of regulation the Reserve Bank has in mind for Eftpos, that's very much up in the air, and sure to be the central focus of plenty of lobbying over the next few weeks. » read more »
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APCA narrows access issues
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10 September 2004 12:00amPeter Smith, chief executive of the Australian Payments Clearing Association yesterday provided an update on the work of the Eftpos Access Working Group, which is endeavouring to work out an access regime under a self regulation model. » read more »
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ATM reform left to the industry
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10 September 2004 12:00amThe Reserve Bank yesterday designated Eftpos, but chose not to designate the automatic teller machine network in Australia. » read more »
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AFIG sale rumour revived
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10 September 2004 12:00amGE Money might be about to announce that it will buy Australian Financial Investments Group, the owner of Wizard Home Loans, from a consortium that includes Publishing & Broadcasting Ltd, ABN Amro, Deutsche Asset Management and Wizard's chief, and State Capital Corp, the company controlled by AFIG's chief Mark Bouris. » read more »
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HSBC challenges with low rates
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10 September 2004 12:00amHSBC is developing aspirations as a challenger brand in the credit card market in Australia, with the introduction of card targeted at the mass market. HSBC's card will offer an interest rate of 2.99 per cent on balance transfers for six months, and an ongoing rate of 10.49 per cent rate. » read more »
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Origin in the doldrums
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09 September 2004 12:00amANZ Bank's Origin wholesale mortgage funding business is in the doldrums, with the market share of this segment of the bank's business down by about one third over two years. » read more »
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ANZ gets creative on broker commissions
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09 September 2004 12:00amANZ said it planned to get "creative" in a review of commissions paid to mortgage brokers, but would not be drawn on what the bank had in mind. At the investor briefing it sounded like the bank didn't necessarily envisage reducing the value of up-front commissions and increasing the trail. » read more »
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Housing finance revives in July
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09 September 2004 12:00amStill on the mortgage market, ABS data on housing finance for July 2004 yesterday shows: » read more »
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Diners snares transactor spending
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09 September 2004 12:00amBrian Hartzer, group managing director of personal banking said at the media briefing yesterday that ANZ had "more than 100,000" customers for the ANZ Diners Club co-brand. Asked to be more precise about this, he said the bank had "a bit more" than 100,000. » read more »
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Pure Commerce first into DCC
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09 September 2004 12:00amAnd in a follow up to yesterday's report on Travelex and its introduction of dynamic currency conversion for credit card payments made with cards issued outside Australia, Daniel Levivki, managing director of payments gateway Pure Commerce yesterday confirmed that the company has offered dynamic currency conversion in Australia for about two years. » read more »
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Thales and Downer front runners for Melbourne ticketing contract
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09 September 2004 12:00amIt's early days in the tender process for the integrated public transport ticketing contract in Melbourne, but the grapevine suggests that a newcomer to the Australian market, the French defence technology conglomerate Thales, may be the front runner. Thales is said to be planning to bid in conjuction with Australian Defence Industries. » read more »
