Bank battles have begun following the collapse of electronic payments company Bill Express last week, leaving 14,000 EFTPOS terminals open for new machine installations.
ANZ’s agreement with the failed business allowed them to install 2,600 EFTPOS machines at the most profitable locations, so merchants could continue processing electronic payments.
However, merchants are now free to negotiate a deal with any bank for the use of the EFTPOS equipment. Rival banks have started approaching industry associations, such as the Australian Newsagents Federation, to stitch up deals, offering features such as a mobile phone recharge facility to cover the services that Bill Express formerly provided, whereas ANZ has not fully covered all Bill Express services.
“We really are trying to keep our members informed of where things are at and, at the same time, still recommending or giving details of alternative service providers to try and fill the gap of some of the things that were originally facilitated by the Bill Express platform,” said federation CEO Don MacAskill.