#Eftpos
‘Tap and go’ reforms would save merchants $290m a year, says small business ombudsman
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 […]
Excessive payment surcharge ban now in effect; consumer advocate encourages no surcharges
All businesses across Australia are now banned from hitting customers with excessive surcharges for using certain types of EFTPOS, Mastercard, Visa and American Express cards to make payments. The excessive surcharging ban has applied to large businesses since September last year and now extends to all businesses that are either based in Australia or use […]
Small businesses urged to prepare now for forthcoming excessive payment surcharge ban
The Australian Competition & Consumer Commission (ACCC) is urging small business owners to prepare themselves for the excessive payment surcharge ban that will apply to all businesses from 1 September 2017. The new law limits the amount that a business can charge customers for use of payment methods such as EFTPOS (debit and prepaid), MasterCard […]
Eftpos set to donate $2 million
Eftpos has pledged to donate up to $2 million to fight skin cancer and diabetes after running a campaign which sought community voting on how its donation should be spent.
Minimum EFTPOS spend finally dying out
Australia is turning its back on cash – almost 90 per cent of consumer payments now made online and through cards.
Consider independent EFTPOS options, businesses told
Rises in credit and debit card interchange fees will create income of $1.23 billion for banks this financial year and doesn’t reflect the level of service the providers deliver, leading independent EFTPOS provider Tyro to urge businesses to consider alternative options.
Payment industry warned to better infrastructure or face intervention
An “unacceptable number” of payment system outages over the past 12 months has led the Reserve Bank of Australia’s (RBA) payment arm to warn the industry to boost innovation and stability or face regulatory intervention.
A look at the changing payments landscape
While Australians recognise the name, many don’t know how eftpos works and what happens when customers press ‘CHQ’, ‘SAV’ or ‘CR’ at the checkout.
Consumers to face rising EFTPOS charges
Consumer confidence will likely take another hit unless the big banks reject a looming deadline to raise EFTPOS fees, with proposed new “interchange fees” to come into effect from 1 October.
Cash is king: payment options to bring cash into your business faster
Cashflow remains a key priority for small businesses, with Dun & Bradstreet’s latest trade payment survey showing payment terms have reached three-year highs, with the average time it takes a debtor to pay a bill jumping more than five days in the first quarter of 2011. With cashflow back on the agenda, there’s evidence more businesses are reviewing their payment options to bring cash into the business faster.
EFTPOS hits one billion transactions in 6 months in Australia
EFTPOS transactions continue to surge in Australia, with one billion transactions processed in the six months to the 31st of December 2010.
NAB ‘payment problems’ legal action by retailers unlikely to succeed
National Australia Bank’s payment problems over the last week have Australian retailers proposing legal action against in the form of a national class action to recover the loses incurred due to the bank’s failures over the last week, such legal action is unlikely to be successful however.
NAB’s problems to result in legal action by retailers
National Australia Bank’s payment problems over the last week have Australian retailers up in arms proposing legal action against NAB in the form of a national class action to recover the loses incurred due to the bank’s failures over the last week.
NAB payment problems resolved – finally
National Australia Bank has reportedly resolved the bank’s problems processing customer payments and transactions from last week, with payments that both business and personal banking customers were waiting for from last week reportedly appearing in bank accounts this morning.
NAB electronic payment problems continue into their second day
National Australia Bank has issued a further follow up statement over the bank’s problems processing customer payments and transactions over the last two nights, with payments from Wednesday night now processed but flow on effects still delaying payments made yesterday according to a statement NAB issued this morning.
NAB claims electronic payments are fixed – customers disagree
National Australia Bank has issued a follow up statement that the banks problems processing customer payments and transactions over the last two nights should now be resolved, with no further delays to EFTPOS, ATM and other electronic payments expected by the bank past this morning.
NAB issues alert over electronic payment problems – EFTPOS & ATMs affected
National Australia Bank has issued a statement that the bank has had problems processing customer payments and transactions overnight, with this possibly causing delays to EFTPOS, ATM and other electronic payments today.
September spending good news for retailers
September showed the first back-to-back gains for the Commonwealth Bank Business Sales Indicator (BSI) in ten months, a promising sign for retailers.