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 […]
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 […]
This week, Melbourne’s Airwallex – a fintech start-up specialising in cross-border payments – closed one of the largest Series A funding rounds ever held by an Australian technology venture. CEO and co-founder, Jack Zhang, spoke to Dynamic Business about what was involved in securing US$13 million for the company’s foreign exchange platform from three global heavy hitters: […]
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 […]
Welcome to the digital age, where Point of Sale (POS) software and similar applications have become the new norm. Not surprisingly, these have changed the way consumers shop – in a radical way – over the past five years. It has also meant that the retailers, particularly small businesses, have had to adapt in order […]
As Australia transitions to being a cashless country, retailers are being urged to stay ahead of the curve and embrace new payment innovations. Those who don’t futureproof their businesses, but instead restrict the ability of consumers to make electronic payments, are not only missing out on sizeable business but risk becoming obsolete. Garry Duursma, Head, Market Development […]
Australia is turning its back on cash – almost 90 per cent of consumer payments now made online and through cards.
The All Blacks took out the final of the Rugby World Cup (RWC) last night, but new research from MasterCard shows businesses in New Zealand were the real winners of the tournament.
MasterCard registered over one million ‘Tap & Go’ contactless transactions in August, a sign that local consumers are responding to the new payment technology.
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.
