Six subsidiaries of media firm Nine Entertainment have paid penalties totalling $159,840 after the competition regulator the ACCC issued them with 12 infringement notices for allegedly charging subscribers and advertisers excessive payment surcharges.
Cross-border, cross-currency money movement and payments provider Western Union has announced the expansion of its 17-year relationship with Australia Post, with the launch of Western Union digital money transfers, enabling customers to send money worldwide, 24/7, via auspost.com.au.
Australia's biggest bank, the Commonwealth Bank, is currently having issues that are impacting the usage of credit and debit cards of its customers.
One of the three people indicted by the US over involvement in stealing millions of credit card and debit card numbers, which were then either used by the gang or sold, has been sentenced to a 10-year jail sentence by the US District Court in Seattle.
Although it's said that cash is king, a new FIS report says "the sun is officially setting on the use of cash for retail payments in Australia, with the economy projected to be 98% cashless by 2024.
The ACCC has accepted a court-enforceable undertaking from Visa AP (Australia) Pty Ltd and Visa Worldwide Pte Limited (together, Visa) "in relation to concerns that Visa may have limited competition in relation to debit card acceptance through its dealings with large merchants."
Debit card provider eftpos has launched a FinTech advisory committee in collaboration with FinTech Australia, designed to give fintechs a direct say in how they can access and leverage the eftpos payments network for the “betterment” of Australia’s digital economy.
Debit card provider eftpos has announced an updated digital product and technology rollout scheduled for the next two years which it claims will create greater value, ease and security for consumers and businesses by enabling “compelling innovations” for members, Fintechs and retailers that enhance the digital commerce experience.
There has been a marked reduction in the level of fraud experienced by its merchant customers, according to the Commonwealth Bank, but despite the drop the bank has warned that small businesses must remain extra vigilant over the festive season.
Financial payment systems and software solutions provider DataMesh Group has announced it has created new technology that will automatically apply least cost routing inside Australia's debit card system.
Global credit/debit card provider Visa has partnered with fintech Payment Logic to launch Yak Pay, a company providing small businesses with the ability to use digital payments when paying non-card accepting suppliers.
Ireland-based global fintech Priviti has launched in Australia as the country prepares for the imposition of new Open Banking legislation and the Consumer Data Right which require major banks to make data on credit and debit card, deposit and transaction accounts available by July 2019 and mortgages by February 2020.
Three members of a cyber crime group known as FIN7 have been arrested in Europe and indicted in the US over charges of using malware to steal millions of credit and debit card numbers which they then either used or sold.
Lost or stolen money or possessions, debit and credit card currency conversion fraud or missing a flight is costing Australian travellers almost $1 billion each year, with new research revealing that money theft is the number one cause of money misadventure.
Web retailer Amazon has announced the launch of Amazon Cash, with the service being aimed squarely at those who want digital cash for transactions but have no means of topping up online.
Payments provider Tyro is partnering with digital payment solutions company Afterpay in a deal which will see Afterpay’s deferred payment plans spread across thousands of small businesses through Tyro’s EFTPOS platform.
With Christmas and the year’s end there’s always a swag of reports about festive season spending. In a new report from EFTPOS payments provider Tyro, Australians are forecast to make 1.5 billion transactions between now and the end of the January post-Christmas sales – peaking at an estimated 85,000 transactions per minute - and amounting to a six week $100 billion spending spree.
New bans on large businesses charging consumers excessive payment surcharges have now come into effect, prompting a reminder from the ACCC that the new law limits the amount large business can charge customers for use of payment methods such as most credit and debit cards.
The National Australia Bank (NAB) has launched its new mobile payment service – NAB Pay - backed by Visa, making it the first bank to use Visa’s Tokenisation Service as the mobile security platform.
The ANZ Bank has teamed up with Google to offer Android Pay to its customers.
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