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Australia

Welcome to the News View for "Australia".

Here, on one page, you'll find all of the articles on Payments News for Australia listed in date sequence beginning with the most recent article at the top of the page.

Click here for a complete listing of what's available in the Payments News Archive - organized by both posting date and subject category.

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May 10, 2008

eBay's PayPal-only Plans in Australia Stir Controversy

Tags » Australia, ECommerce Payments, PayPal

Ina Steiner writes for AuctionBytes.com about new developments as eBay moves forward with plans to mandate PayPal on sellers in Australia. She cites several submissions to the inquiry into the practice being conducted by the Australian Competition and Consumer Commission.

May 09, 2008

Reserve Bank of Australia Comments on eBay's PayPal Mandate

Tags » Australia, ECommerce Payments, PayPal

The Reserve Bank of Australia has made comments to the Australian Competition and Consumer Commission's inquiry into eBay's recent announcement that it would mandate the use of PayPal for payments on eBay's Australian site. The RBA comments: 'The proposed conduct by eBay is to mandate the use of PayPal for almost all transactions on the eBay site. This raises three potential issues in relation to the payments system. The first is that it could limit the ability of new on-line payment systems to become established and for alternative systems to compete in the on-line payments space. The second is that it could restrict merchants' ability to negotiate lower fees. And the third is that it restricts choice for consumers.' More in the RBA's full submission. Also, CNN reports on eBay's move.

May 05, 2008

More on Pen or PIN on Credit Cards in Australia

Tags » Australia, Credit Cards, Pen or PIN

We mentioned the Pen or PIN program in Australia earlier today. The Pen or PIN website includes several resources explaining what's happening including a general backgrounder, one for retailers, another for cardholders, and an FAQ for media. "From 4 June 2008, most American Express, Diners Club, MasterCard and Visa cardholders will have the choice to use a Personal Identification Number (PIN) to authorise transactions when using these cards in person. The introduction of PIN on these cards follows an industry-wide collaboration involving all major banks, financial institutions and card schemes operating in Australia."

Australia Moving to Allow Use of PINs for Credit Cards

Tags » Australia, Authentication, Credit Cards, Pen or PIN

The Sydney Morning Herald reports on the "Pen or PIN" project underway in Australia that will allow shoppers using credit cards to either sign their receipts as they've always done or choose to use a PIN instead beginning June 4. A spokesman said: 'The introduction of PIN on credit and debit cards will give cardholders a quick and easy alternative to signature authorisation when making purchases in person.' Meanwhile, the Herald Sun reports that a consumer group is concerned that a move to PINs 'could result in consumers being unable to dispute credit charges.' More details here.

April 21, 2008

Reserve Bank of Australia's Review of Payments System Reforms

Tags » Australia, Card Payments, Financial Regulators, Interchange Fees

The Reserve Bank of Australia has released preliminary conclusions from its 2007/08 review of the payments system reforms icon_PDF_small.gif undertaken by the Payments System Board. The Bank is now seeking submissions on these conclusions, before finalising the review later in the year.   » Continue Reading

April 17, 2008

Australia - Payments Systems Review Conference Proceedings

Tags » Australia, Financial Regulators, Interchange Fees

The Reserve Bank of Australia has published the Proceedings from its Payments Systems Review Conference icon_PDF_small.gif held last November. 'The conference was designed to bring together a wide range of parties to discuss the reforms of recent years and how best to move forward. It was attended by around 90 invited participants, drawn from financial institutions, payment schemes, industry bodies, merchants, consultants, academia and public policy institutions.' The table of contents of the proceedings is here.

January 28, 2008

Mobile Banking in Australia

Tags » Australia, Mobile Banking

In an article titled 'ANZ starts rush to mobile banking', Mahesh Sharma writes for Australian IT 'ANZ is set to become the first bank in Australia to launch a mobile phone banking service and its competitors are expected to follow suit soon.' ANZ's offering will include both SMS-based information services as well as a Java-based mobile handset application.

January 07, 2008

Commonwealth Bank of Australia's Mobile NFC Pilot

Tags » Australia, Contactless Payments, MasterCard, Mobile Payments, Near Field Communication (NFC), Vivotech

ViVOtech has announced that its "ViVOnfc infrastructure software for Near Field Communication (NFC) mobile phone payments is being used by the Commonwealth Bank of Australia in its first NFC mobile phone payment launch in conjunction with MasterCard at the MasterCard Masters Golf Tournament."   » Continue Reading

November 29, 2007

Payments Systems Review Conference - Reserve Bank of Australia

Tags » Australia, Card Payments, Financial Regulators, Interchange Fees

As part of its2007–08 review of the reforms to Australia's payments system, the Reserve Bank of Australia co-hosted a Payments Systems Review Conference (several papers available for download) today in conjunction with the Centre for Business and Public Policy at the Melbourne Business School.   » Continue Reading

September 18, 2007

Australia's Reserve Bank Annual Report on Payment Systems

Tags » Australia, Interchange Fees

The Reserve Bank of Australia's Payments System Board has published its Annual Report (PDF) covering its activities for 2006 and 2007. The report devotes a full chapter to the Card Payments Systems - noting that "much of the Board’s effort has been devoted to improving efficiency and competition in Australia’s retail payments system, particularly the card-based systems" and, especially, interchange fees.   » Continue Reading

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