The competition regulator and enforcement agency the ACCC is seeking views on a court enforceable undertaking which has been offered by Industry Committee Administration (ICA), the company representing three Australian payment services providers seeking to merge.
Australia's three domestic payment bodies — eftpos, BPAY Group and New Payments Platform Australia — intend to amalgamate and create a new entity, NewCo, in order to cut costs, improve efficiency and compete better with foreign payment platforms.
Mobile payments provider Sniip says it will be increasing the number of billers accessible through its app to 45,000, and gaining access to 1.5 million more payments each working day, after being sponsored into the BPAY scheme by e-payments giant, Indue.
Sydney-based start-up incubator Lakeba has announced the $20 million sale of its Paid by Coins venture to Australian-listed customer engagement technology provider Mobecom only seven months after launching the platform in early 2018.
Payments provider BPay claims more $20 billion has been transferred through its Osko payment platform — which allows the transfer and receipt of money instantly — since its launch earlier this year, with Osko now available via online banking with banks and financial institutions.
Twenty years after BPAY was launched in Australia around 60% of Aussies now pay their bills using the service, according to the payments company which says that on average people pay five or six bills a month.
Security firm MailGuard has warned of a new email scam involving an email message claiming to be from Telstra Media containing a billing notice.
Accounting software company Xero has integrated a new payment option on its platform, allowing small businesses to accept payments on BPAY.
In 2016, digital transactions are the norm. Or so one would think. But this does not appear to be the case with National Australia Bank.
Australian non-bank payment provider, Ezidebit, has launched a new cloud software offering which it says allows businesses to process any invoice payment method - online, direct debit, credit card or BPay - from a single unified platform.
BPAY has launched an Initial Convenience Service (ICS) which will let Australian consumers immediately transfer funds to and from their bank accounts via their mobile phone, tablet, or via the internet.
Surprise, Surprise. Digital Post Australia has announced it will close down. What on earth where they thinking to launch it in the first place?
How do you pay your utility and phone bills? PayPal is increasingly on option in Australia, challenging BPAY and credit cards, not to mention the big 4 banks.
If Apple launches its iPhone 5, complete with a Near Field Communications chip (the technology that allows wave-and-pay) in September, and does some form of payments deal with PayPal, it will represent a 'perfect storm for disruption' of the global payments market and force local banks to rethink their strategies a financial forum was warned this morning.
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