Every year we see an increasing number of people buying or selling online. In 2016, Australians completed 8.1 billion card transactions, totalling $714.5 billion. By 2020, forecasts project that online shopping will have doubled since 2015 and account for 15 per cent of all retail sales globally. However, as more people shop online, businesses not only […]
A parliamentary committee recommendation for banks to reduce ‘tap and go’ transaction fees has attracted support from the Australian Small Business and Family Enterprise Ombudsman Kate Carnell. The House of Representatives Standing Committee on Economics recommended that banks let merchants send tap-and-go payments from debit cards through eftpos instead of credit, and that regulatory action be taken […]
Do you want to maximise the number of points you can earn on your business costs? Use these three simple strategies to boost your business’s points balance and redeem rewards faster. Use a business rewards credit card Unlike some personal credit cards, a business rewards or frequent flyer credit card is an easy way to […]
There has been a lot of talk about changes to credit card rewards programs in 2017. You might even have received a notification from your bank recently about how your rewards program is about to change. This is because of new interchange fee regulations that rolled out from 1 July 2017. In 2016, the Reserve […]
New card payment regulations, which commence mid-year, could impact how SMEs conduct business but a majority have a limited understanding of the changes, American Express has warned. Card payment regulations announced by the Reserve Bank of Australia last year are due to come into force from July and will cap the fee that Visa, MasterCard and bank-issued American Express […]
Usually, the first couple of years in business are an exercise in trial and error. Running an e-commerce business, though easier and cheaper to set up, is no different. Note: This article is the seventh in a multi-part series by Chris Dahl, providing guidance on setting up an ecommerce business. Read the rest: Ecommerce success begins […]
As of 1 August 2014, Australian credit and debit card users will no longer be able to sign for purchases.
Australia’s major financial institutions and card providers have today announced a campaign to expand the use of PIN for payment authorisations on chip-enabled credit and debit cards, instead of a signature.
While credit card use has slowed down, many Aussie credit card holders are holding onto their debt. RateCity predicts it could take over 24 years to pay off current debts.
Banking reforms may be on the way with draft legislation coming before Parliament within a matter of weeks, though the banking sector says the consultation period has not been long enough.
