Latest news (24,878 items)

Interstar accelerate with fast loans

Mortgage provider Interstar is writing an increasing proportion of its business as low doc, or "fast" loans in which the lender makes few checks of a customer's financial position and instead relies on their own certification of their capacity to repay a loan. read more

Cosmos seeking capital

Point of sale systems provider, payments processor and aspiring billing services provider Cosmos managed to have its shares restated on the Australian Stock Exchange yesterday, having filed audited accounts, and a revised 4B with the exchange. read more

ERG board clean out

The clean out of the board of ticketing systems and smart card play ERG took place on Friday, with the departure of chair Sandy Murdoch, deputy chair Mick Bolto and director Greg Crew. read more

Visa settles Wal-Mart case

Visa International caved in on Thursday morning and joined its rival MasterCard in reaching a settlement in the class action mounted by US retailers, which challenged the card organisations' insistence that merchants accept debit cards as well as credit cards. read more

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

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