Posts tagged "merchant fees"

The Reserve Bank of Australia has substantively shifted its position on how banks and credit card schemes prioritise their products in mobile wallet Apple Pay.

Apple's deep pockets mean its new Apple Pay Later product could challenge existing leaders in the buy now, pay later space.

Labor has made its election pitch to the small business community, promising to cap invoice payment times at 30 days, champion lower merchant service fees, standardise disaster support, and slash red tape at tax time.

The rise of contactless card payments is squeezing the margins of small businesses, as higher merchant fees increase the cost of taking digital payments, say small business groups.

Commonwealth Bank has become the first of the major banks to commit to automatically routing transactions for small business merchants, weeks after Treasurer Josh Frydenberg said more needs to be done to lower transaction costs for small businesses. 

Ten industry associations representing Australian SMEs have penned an open letter, demanding urgent action be taken to avoid higher transaction costs for Australian retailers.

Aussie businesses are going cashless in droves during the COVID-19 pandemic, but SMEs are getting the short end of the stick as multinational payments giants clip the ticket.

Legislators in the US are considering whether to ban cashless businesses, while closer to home, Aussies are transitioning to a cashless economy.

RBA governor Phillip Lowe says Australia has reached a turning point on digital payments, but there are some very big issues that need to be dealt with.

Lloyds Auctioneers has been issued with infringement notices after overcharging some consumers by hundreds of dollars, the ACCC has alleged.

Hundreds of small businesses across the country are ditching surcharges and card minimums in favour of a better customer experience.

A federal government review has demanded the banks give merchants and customers more options when using tap-and-go payments, but one small b…