Latest news (24,861 items)

Honour all cards rule loses bite

The honour all cards rule that is one of the pillars of credit card payment systems will be modified, rather than dropped, as part of the settlement by the cards brands with the US retailers. read more

APCA cool on prospects for Eftpos access regime

The Australian Payments Clearing Association has started the machinery for the development of an access regime for the Eftpos debit network, but is hosing down expectations that it will be possible to complete the job. read more

CECS renewal sought

APCA made its observations to the ACCC about the prospects for developing an Eftpos access regime in a separate application to the ACCC for renewal of regulatory clearance for the "consumer electronic clearing stream", or the set of technical standards which spell out in detail the specifications for Eftpos and ATM networks in Australia. read more

Coles sells bill payments, ATMs

Coles Myer has sold out of its ServiceATM business, which allows customers at its supermarkets to pay bills and to check account balances, but not to withdraw cash. read more

Newsagents to pilot bill payments in two months

Cathie Trezona, project director at the Australian Newsagents Federation, says the pilot for the bill payments service will kick off in a couple of months, but declines to go into the details or confirm the business arrangements in place for the project. read more

Visa seeks settlement of Wal-Mart case

Visa International may follow the lead of MasterCard and settle a class action bought in the US by thousands of retailers. A US district court overnight postponed opening arguments in the action saying the two sides were working toward a settlement. The rescheduled the opening of the case to Friday. read more

MasterCard settlement details confirmed

Though details of the settlement that MasterCard reached with the retailers on Monday still are not public, the terms are being circulated to retailers in the class action. read more

Business lending stronger, but still soft

Reserve Bank data on lending activity for April 2003 shows that growth in lending for business recovered in the month, while the rate of growth of consumer lending fell back. read more

ERG share issue uncertain

ERG shareholders yesterday approved the conversion of debt to equity that will dilute their stake to 35 per cent and hands control to convertible note holders, of which the funds grouped under the Ingot entities tied to Duncan Saville are the most significant. read more

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