Payments News

On The Web

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Global

Cash Payments Plummet Thanks to Pandemic

“Bullock predicts that ATM consolidation around the country will accelerate, which on one hand is not the issue it was years ago since ATM interchange fees are mostly gone in the country, but on the other hand, cash is still heavily used by older and poorer Australians. An RBA survey last year found that while […]
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Global

Australia Central Bank May Use Powers to Lower E-payment Costs

“Australia’s central bank could use its regulatory powers to reduce the cost of electronic payments for merchants and consumers as the coronavirus pandemic makes people wary of using cash, Assistant Governor Michele Bullock said on Wednesday. The Reserve Bank of Australia (RBA) is conducting a review of retail payments regulation in the country with a […]
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Global

How to Prepare for Open Banking

“Australia will soon transition from a closed banking system – in which each financial institution keeps and controls its customers’ information – to one in which customers control their own data. The new regulated system aims to allow customers to unlock their own financial data and to provide them with a wider choice of financial […]
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Global

Australia’s big banks slammed for greed and dishonesty

“The report explains: “Much more often than not, when misconduct was revealed, little happened beyond apology from the entity, a drawn out remediation programme and protracted negotiation with ASIC of a media release, an infringement notice, or an enforceable undertaking that acknowledged no more than that ASIC had reasonable ‘concerns’ about the entity’s conduct.”
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Companies

Coinbase Lets You Convert Your Tokens Into Gift Cards

“It’s still quite hard to buy physical goods using bitcoins or ethers. Coinbase plans to (partially) solve that issue with a new partnership with WeGift. Coinbase customers in Europe and Australia can now convert their tokens on their Coinbase account into digital gift cards for popular stores. For instance, you’ll be able to buy gift cards for Uber, Tesco, Google […]

On The Wires

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Companies

eBay Continues to Expand Its Management of Payments to Australia and Canada

“As eBay continues to modernize its marketplace and create a more streamlined experience for buyers and sellers, the company is expanding its management of payments to Australia and Canada later this year. Australia and Canada are the fourth and fifth countries to offer eBay’s new payments experience, after the U.S., Germany and the U.K. “By managing payments on our platform, we are enhancing the eBay experience […]