Payments System Board (24 items)

Carney competes for fintech spotlight

There is "a growing pipeline of firms" - make that fintechs - clamouring for access on level terms with banks to the central bank's most vital, and real-time, payments processing. At least in England, or so BOE governor Mark Carney told a London fintech fiesta last night. read more

Android NFC no match for Apple's, plead banks

In their ongoing wrangle with Apple, Australian banks insist that relying on the Android platform for a digital wallet is a hopeless option. They warn that, if forced down that path, local wallets would expire from the user disinterest that killed off the New Zealand scheme Semble, the Canadian scheme suretap, the CurrentC scheme set up by US retailers, and the Swiss scheme Paymit. read more

Comment: Three priorities for any banking inquiry

"If there is to be a banking royal commission, may it shine the spotlight on three of Banking Day's favourite topics," we asked, taking an optimistic view, back in early April (see Labor's banking inquiry shemozzle).One of our top topics, we wrote, may be "a study bound to be disconcerting for all those that have hooked their reputations to the BS and bulldust story of Australian exceptionalism during the great recession." Banking Day has called before for a "DFAT-style 'select documents' release to foster understanding of the shaky history of Australian banking." read more

New surcharge rules take effect this week

A new card payment surcharge standard will take effect on Thursday, limiting surcharges to recovering the cost of acceptance, which has been defined more narrowly than in previous versions of the standard. read more

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