This Month
Restaurants warn fee ban will lead to prices to rise
The government’s proposal could see credit card users doubly penalised by paying higher prices, and face an additional surcharge set around 2 per cent.
- James Eyers
November
APRA warned Cuscal on risk settings ahead of IPO
The payments company, set to list on the ASX next week, is working with the regulator to improve compliance systems after an external review disclosed in its prospectus.
- James Eyers and Lucas Baird
Payments tearaway Findi carves out $75m unit from Indian giant Tata
Findi is set to acquire Tata Communications Payment Solutions, which will bring 4600 operational ATMs into its network and swell full-year revenue by a third.
- Sarah Thompson, Kanika Sood and Emma Rapaport
CBA’s Comyn boils over at Apple free-riding on banks
The CBA boss said the government should consider hitting tech companies with a bank-style levy to even the competitive playing field.
- James Eyers and Lucas Baird
Inside a decade-long rollercoaster ride with Afterpay’s Nick Molnar
Ten years ago this week, the buy now, pay later firm’s founder sold some jewellery to his business partner Anthony Eisen in a novel way: pay-in-four.
- James Eyers and Jonathan Shapiro
October
Anthony Eisen bows out at Afterpay
The co-founder of the buy now, pay later pioneer told staff at Block, which he joined after the takeover, he would step away from an executive role.
- James Eyers
Zip banks on interest rate cuts as transaction volumes soar
The buy now, pay later group has endured a difficult two years and returned to growth, particularly in the US, where the majority of sales are processed.
- James Eyers
IPO hopeful Cuscal worth up to $656m at 10.3-times EBITDA: BofA
This is its second shot at securing an ASX listing after it pulled the plug on a $367 million to $378.4 million IPO bookbuild last year.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Small businesses fear payments squeeze in surcharge ban
Business owner Rob Anderson says payment processing costs have jumped “exponentially” with 80 per cent of customers now using card and digital payments.
- Lucas Baird
AMP eyes February for long-planned expansion into business banking
The company, which already has a major mortgage loan book, will target start-ups and sole traders as it attempts to find higher margins.
- James Eyers
Pricing out for Cuscal IPO; seeks to raise $338m at 13.1 times
The deal will be fixed at $2.50 per share, giving the payments group a $479.1 million market capitalisation.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Nine’s mea culpa | PM’s beach house bungle | When a $5 coffee costs $5.04
This week on the Chanticleer podcast, James and Anthony discuss Nine’s apology for widespread bullying and harassment, and question the wisdom of the PM’s property purchase.
What, me worry? Labor’s debit card surcharge ban and the $500m IPO
Second-time-lucky ASX aspirant Cuscal has found itself in the midst of sector-wide upheaval as the Albanese government hones in on debit card surcharges.
- Sarah Thompson, Kanika Sood and Emma Rapaport
JPMorgan enters Australian payments as competition heats up
The world’s largest bank said it would start offering “merchant acquiring” services in Australia, in the latest threat to major banks’ payments margins.
- James Eyers
- Exclusive
- Credit cards
Payment giants threaten to halt refunds for fraud
The two payment network giants have threatened to stop providing refunds to defrauded customers if forced to limit how much they charge for their services.
- James Eyers
- Opinion
- The AFR View
The surcharge ban must lead to lower payment costs
The policy should instead lead to real downward pressure on payment service providers to cut overall costs. The ban should be the incentive to do so.
- The AFR View
Time to catch up with QR code payments
Readers’ letters on a better way to pay; productivity in the mining industry; benefits of new merger laws; Japan’s gas demands; and a true Whyalla wipeout.
RBA puts payment industry on notice to protect shops, restaurants
Business groups including those representing the hospitality and convenience sectors worry they will be left wearing the cost of a ban on debit card fees.
- James Eyers and Lucas Baird
Labor to ban debit card payment surcharges
The Albanese government is attempting to ease financial pressure on families ahead of a federal election next year. But the change could hurt small businesses.
- James Eyers, Lucas Baird and John Kehoe
- Opinion
- Chanticleer
This card surcharge crackdown won’t solve cost of living crisis
It would be great for shoppers if the RBA and the competition watchdog found widespread rorting of payment surcharges. But don’t hold your breath.
- Anthony Macdonald
