RBA considers regulation to enforce least-cost routing access for merchants
The Reserve Bank has issued a new warning to banks that make it difficult for merchants to access cheap debit card transaction fees, saying it will consider regulation banning 'default' transaction routing.
CBA wants urgent Apple regulation, direct access to iPhone payments as fees soar
The CBA has called for urgent regulation for Apple Pay in a Senate Economics Committee submission this week, saying time is of the essence.
SMEs slogged with card transaction fees three times higher than big business, with least-cost routing yet to reach full potential
Australia's smallest businesses are saddled with card transaction fees triple that applied to major corporations and the take-up of cheaper options remains "disappointingly low", according to the Reserve Bank of Australia.
“What’s next on the chopping block?”: How Australian small businesses are reacting to the interest rate pressure
Asking for payment extensions. Pausing ad campaigns. Slashing graphic design projects. In the face of surging interest rates, entrepreneurs are making drastic decisions to cope with the new cost of their loan repayments.
Cash rate hits 3.35% as RBA signals more hikes to come this year
The latest 0.25 percentage point rise adds $90 a month to a $600,000 variable mortgage.
With inflation at 7.8%, another interest rate rise in February is all but guaranteed
Interest rates are almost certain to rise again in February, after the latest Consumer Price Index (CPI) figures showing inflation hit 7.8% in 2022 – its highest rate in 33 years.
Why house prices are continuing to fall as inflation rises in Australia
In recent years, housing became more expensive at a faster rate than essentially everything else. Is there more room for prices to drop?
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.
The RBA is mulling the possibility of an official digital currency, but would it actually work?
The RBA has some interesting things to say about the possibility of how digital currency could work as an official, central bank-issued part of Australia's financial system.
Why Australia’s high savings could push the RBA to continue hiking interest rates in 2023
Rising interest rates are meant to encourage saving. But our high savings buffer means we're still spending freely while inflation rises.
Why the RBA’s latest interest rate rise might be the last for some time
You might not know it from reading Tuesday’s statement announcing Australia’s eighth consecutive increase in interest rates, but our Reserve Bank might finally have done enough.
Report reveals extent of real-time payments debacle as RBA apologises for outage
The Reserve Bank of Australia has lifted the lid on a crippling outage that halted transactions flowing through the New Payments Platform in mid-October.
