Latest news (24,861 items)

Banks take a loss on Leigh-Mardon

Bankers to troubled security printer and credit and debit card manufacturer Leigh-Mardon will finally crystallise a loss on their loans to the company, as Leigh-Mardon's management chase a buyer for the business. read more

ANZ may double Asian investment

ANZ Bank has amplified its investment plans in Asia, revealing yesterday that it may invest between five and 10 per cent of its capital in Asia "over time". The bank disclosed this estimate in a stock exchange announcement that otherwise confirmed media reports from Bangkok earlier this week that ANZ was considering an investment in Thai Military Bank. read more

Credit card growth declines in February

Growth in key indicators in the credit card market fell in February 2003, relative to January 2003 and to February 2002, in a sign of the progressive maturity of credit cards as a payments product. read more

Spending shifts to credit from debit

Michael Ebstein, principal of MWE, notes that he decline in the value of purchases on credit cards in February was much less pronounced than the decline in spending on debit cards. read more

Card spending indices at peak

Michael Ebstein notes that key credit card use indices such as balance to limits, spend to limits and spend to balance either continued at, or reached, new peaks in February. read more

Credit card fraud tough to measure

The measurement of credit card fraud, and the measurement of fraud against business generally, is an inexact science, with significant discrepancies between police statistics and independent surveys, and between surveys. read more

John Pearce returns to Collection House

Collection House, a consolidator of debt collection agencies, dumped its chief executive Russell Templeton yesterday, and installed the previous CEO, John Pearce, in his place. read more

National, Westpac disappoint business customers

National Australia Bank and Westpac are struggling to meet the expectations of their business customers, with more than a quarter of customers in the middle market indicating plans to shift their business elsewhere over the next year. read more

Former Cisco executives behind MoneySwitch

A group of technology executives, many with prior connections to networking giant Cisco are behind payments play MoneySwitch, a company founded in February with aspirations to enter the merchant acquiring market in both debit and credit. read more

MoneySwitch targets lower merchant fees, superior service

Paul Wood explained that the value proposition being developed by MoneySwitch would exploit a lack of innovation in the Australian acquiring market, such as the dependence by banks on dated communication links and separate payments terminals, and weak service standards by banks. read more

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