Visa and Mastercard to limit “tying conduct” that offers some merchants cheaper credit processing fees
Payment giants Visa and Mastercard have pledged not to offer merchants cut-price credit transaction rates if they lock into their debit transaction systems, a move small business advocates hope will level the playing field for local SMEs.
Nine out of 10 SME leaders believe increased diversity and inclusion in the workplace will benefit their businesses
New research from global technology company Mastercard has pinpointed vital areas of focus for small businesses in the coming months to get more customers through the door.
Tap to the future: Government could crack down on payment companies making it harder for SMEs to access the cheapest fees
A new Treasury consultation paper puts the spotlight on least-cost routing: the system allowing small businesses to choose the cheapest payment system whenever a customer taps their card.
‘It’s actually a threat’: Apple crashes the buy now, pay later party, putting fintechs on high alert
Apple's deep pockets mean its new Apple Pay Later product could challenge existing leaders in the buy now, pay later space.
John Durie: Least cost routing in the spotlight as ACCC pursues Mastercard over misuse of power
The ACCC's case against Mastercard is its second-ever section 46 case since the law was amended five years ago, alleging the payments giant misused its market power.
John Durie: ACCC takes Mastercard to court over card payment agreements with retailers
The ACCC alleges that after the RBA changed the rules in 2017 to demand so-called least cost routing, Mastercard did deals with the major retailers in an attempt to sidestep the new directives.
Mastercard’s “smile to pay” face recognition payments system is raising privacy, security and bias concerns
Mastercard’s “smile to pay” system, announced last week, is supposed to save time for customers at checkouts. It is being trialled in Brazil, with future pilots planned for the Middle East and Asia.
SMEs caught in a turf war, as complexities of going cashless abound
Aussie businesses are going cashless in droves during the COVID-19 pandemic, but SMEs are getting the short end of the stick as multinational payments giants clip the ticket.
“Not good enough”: Pressure on banks over tap-and-go fees as uptake laggs
Tap-and-go payment fees are in the spotlight again with industry groups calling for banks to be "more proactive" about educating customers.
Big banks “dragging their heels” on reducing tap-and-go costs for businesses
Australia's big four banks are being criticised for being slow to introduce a lower-cost solution for processing tap-and-go payments.
Should cashless businesses be banned? Some American legislators think so
Legislators in the US are considering whether to ban cashless businesses, while closer to home, Aussies are transitioning to a cashless economy.
Cash is dead, long live cash: The problems with Australia’s digital ecosystem
RBA governor Phillip Lowe says Australia has reached a turning point on digital payments, but there are some very big issues that need to be dealt with.
