The ACCC says Mastercard offered cheaper rates to over 20 major retail businesses if they used its own network to process transactions.
May 31, 2022The ACCC said the merger will enable the three payment schemes to coordinate investment proposals, avoid duplicative spending, and likely result in public benefit.
September 15, 2021Treasurer Josh Frydenberg has asked the RBA to consider mandating the issuance of dual-network debit cards for major and medium-sized banks.
September 3, 2021A court enforceable undertaking is proposed to address concerns that the merger could reduce investment and support for eftpos and decrease the availability of least-cost routing.
August 10, 2021Visa is legally bound to ensuring that merchants will not pay higher processing costs if they process debit card payments through eftpos rather than the Visa network.
March 12, 2021Access to Australia's real-time payments system will enable TransferWise to reduce foreign exchange fees and wholesale banking costs.
December 1, 2020The RBA has signalled it was considering taking regulatory action to force banks to move faster in moving merchants from Mastercard and Visa to lower cost networks.
August 6, 2020Forcing banks to route payments through EFTPOS rather than Visa or Mastercard could save retailers an estimated A$500mn a year.
February 7, 2020AusPayNet’s latest data shows a decline in the overall rate of card fraud for 2018, alongside slower growth in online fraud.
August 9, 2019