Australia’s Treasurer has asked the RBA to consider mandating payment providers to offer retailers with a multiple network option, allowing payments to be processed more cheaply.
Dynamic Business brings you a daily rundown of the most recent business news and developments from Australia and around the world.
The small business groups raised fears that a proposed Eftpos merger will result in fewer payment options and higher merchant fees.
75 per cent of executives view customer insight as a vehicle for innovation.
As consumers demand more sustainable and ethical business operations, companies can now join forces and fight climate change collaboratively through Mastercard’s Priceless Planet Coalition. The Priceless Planet Coalition (PPC) unites merchants, banks, cities and consumers to plant 100 million trees by 2025. It is a platform where businesses can crystallise their sustainability goals and help […]
Start Path – Mastercard’s global start up program – has bolstered 230 fintechs around the world and helped them raise $2 billion in capital. The program boasts an Australian alumni of Airwallex, Money Tree and identitii, and has recently partnered with its first Australian fintech mx51. We chatted with Kallan Hogan, Head of Fintech Australasia […]
The brains behind QPay, a payments app for uni students, have secured $570,000 in funding to challenge banks for the millennial market. Provided to QPay by high-profile investors including Sydney Angels and the Sydney Angels Sidecar Fund 2, the funding will enable the startup to release a student-targeted QPay MasterCard. According to QPay CTO and […]
The current interest rate in Australia is 1.5%. It has been that way for 16 months +, as the Australian central bank pursues an accommodative monetary policy to facilitate growth and recovery. Unfortunately, the tough times post global crisis meant that Australian banks and financial institutions were a lot more stringent about who they approved […]
Cross-border payments startup Airwallex has received a US$6 million investment from VC firm Square Peg, bringing its total Series A capital raise to US$19 million The Melbourne-based fintech company previously closed its Series A funding round in May, having raised a combined US$13 million from Mastercard, Sequoia Capital China and the world’s fourth largest internet […]
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 […]
