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A leading payments industry news source for more than 17 years. Glenbrook curates the news and keeps you abreast of the important daily headlines in payments.
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August 22, 2025
Top Post
Australia Ditches Batch Payments. Is North America Next?
RedCompass Labs
"BECS [Bulk Electronic Clearing System]– Australia’s long-standing batch payments system – will be retired in 2030 (if all goes to plan). Here’s what that could mean for the US and Canada."
August 21, 2025
On the web
Australian Consumer Watchdog Moves to Empower Encryption Upgrade for Card Payments
The Cyber Express
"In a forward-looking proposal introduced last week, the Australian Competition and Consumer Commission (ACCC) has invited public submissions on a draft determination that would permit the payments industry to coordinate its migration to a more robust encryption standard for card payments. The agency, through this authorization, is considering granting the approval for a period of eight years. The move centres on replacing the ageing Triple Data Encryption Standard (TDES)—currently used across Australia’s card payments ecosystem—with the more advanced Advanced Encryption Standard (AES)."
Whitepaper: Unlocking Business Opportunities With Real-Time Payments [Australia]
Australian Payments Plus
"The way businesses pay and get paid is undergoing a fundamental shift. This whitepaper explores the benefits, opportunities, and considerations for businesses as they prepare for Australia’s payments future and includes case studies of leading organisations already realising the benefits, including: Amazon.com.au’s new payment check-out option; BP’s support for small retailers and efficiency improvements."
August 15, 2025
On the web
Case Study: Red Energy Modernises Bill Payments [Australia]
Australian Payments Plus
"Electricity and gas provider Red Energy is the first major Australian utility to offer PayTo as a real-time bill payment solution, giving customers an instant payment option and Red Energy immediate transaction visibility. [Video]"
August 4, 2025
On the web
Treasury and Payments Platform Finmo Enhances Transaction Security with Confirmation of Payee Rollout in Australia
Finmo
"Finmo, a Treasury and Payments platform, has officially gone live with Confirmation of Payee (CoP) in Australia, reinforcing its commitment to fraud prevention, regulatory readiness, and customer trust. As the country begins its industry-wide CoP rollout, Finmo is among the first payment platforms to adopt the safeguard. Mandated by Australian Payments Plus (AP+) and supported by the New Payments Platform (NPP), CoP helps tackle rising fraud by verifying account details before funds are sent."
July 16, 2025
On the web
Australia Looks to Scrap Surcharges on Most Card Payments
Yahoo Finance
"Australia's central bank proposed to scrap surcharges on most debit and credit card payments for consumers while lowering interchange fees paid by businesses, steps it estimated would save the two groups around A$2.4 billion ($1.57 billion) a year. In a consultation paper on the proposals, the Reserve Bank of Australia said surcharges and fees were no longer in the public interest and invited feedback from interested parties by August 26."
July 15, 2025
On the web
No More Card Surcharges: What the Reserve Bank’s Proposed Changes Mean for Your Wallet [Australia]
The Conversation
The Reserve Bank of Australia (RBA) has proposed a sweeping reform: abolishing card payment surcharges. The central bank says it’s in the public interest to scrap the system and estimates consumers could collectively save $1.2 billion annually. After an eight-month review, the bank’s Payments System Board has concluded the surcharge model no longer works in a predominantly cashless economy. The proposal now on the table is to phase out surcharges and instead push for simplified, all-inclusive pricing.
July 2, 2025
On the wires
NAB Welcomes Confirmation of Payee [Australia]
NAB News
"NAB has today welcomed the launch of the banking industry’s new Confirmation of Payee system to help tackle scams. Customers making payments with a BSB and account number in the NAB App and Internet Banking will benefit from the technology as it is rolled out at NAB."
June 23, 2025
On the wires
Shift4 to Acquire Australian Payments Leader Smartpay
Business Wire
"Smartpay sells tailored payment solutions through an extensive distribution network across Australia and New Zealand, supporting a diverse base of more than 40,000 merchants in the region. The acquisition is expected to close in the fourth quarter of 2025, subject to regulatory approvals."
June 12, 2025
On the web
Visa, Chainlink Successfully Complete CBDC, Stablecoin Swap Between Hong Kong, Australia
CryptoSlate
"Visa and Chainlink have completed a key milestone in the Hong Kong Monetary Authority’s (HKMA) e-HKD+ Pilot Programme, successfully testing a cross-border blockchain transaction using central bank digital currency (CBDC) and stablecoins. The trial, conducted in partnership with ANZ, ChinaAMC, and Fidelity International, is one of the first real-world simulations of programmable money being used for cross-border investment in tokenized assets."
June 11, 2025
On the web
Afterpay, Klarna, Zip Warning for Aussie Users as Major BNPL Overhaul Hits Today (June 10): ‘You Should Reconsider'
Yahoo Finance
"Australians who use buy now, pay later (BNPL) services have been warned new regulations coming into force from June 10 could have huge implications on their future. While these platforms have been game-changers for people running a little low on cash, they're now operating under the same rules as credit cards and personal loans."
Australian Payments Plus and G+D to Lower Cost of Debit Payments for Online Checkouts
Fintech Singapore
"Australian Payments Plus (AP+) is working with payment technology firm Giesecke+Devrient (G+D) to bring eftpos and least-cost routing (LCR) to Click to Pay, marking what the companies say is a global first for online debit card payments. AP+ brings together three domestic payment providers, BPAY Group, eftpos and NPP Australia, into one integrated entity."
May 6, 2025
Top Post
ANZ Scraps Passwords for 1 Million Customers in ‘Revolutionary’ Online Banking Change
Yahoo Finance
"ANZ is scrapping passwords for internet banking for its digital banking arm ANZ Plus. The move makes it the first Australian bank to offer a fully passwordless internet banking option. From mid-2025, ANZ Plus customers will be able to log into internet banking through two authentication methods. Either by using a passkey, which could be their fingerprint, face or mobile device PIN, or by entering their mobile number and approving a login request sent to their ANZ Plus app."
May 2, 2025
On the web
Volt’s One-Click Payto Payment Solution Made Available to Shopify Customers in Australia
Volt
"Volt announced its expansion to the Australian market with Shopify. Volt is enabling Shopify merchants to offer Australian consumers a one-click checkout experience powered by PayTo. In Australia, Volt will be first-to-market on Shopify with a one-click checkout built on PayTo, a real-time payment system developed by the country’s New Payments Platform in 2022."
April 30, 2025
On the web
Banked, Chemist Warehouse and Shopback Launch Australia’s First In-Store Pay by Bank With Rewards Program
Banked
"Banked, the leading global Pay by Bank provider, has partnered with Australia’s top retail pharmacy group Chemist Warehouse, and leading shopping, rewards, and payments platform ShopBack, to launch the country’s first in-store Pay by Bank experience that also allows consumers to earn Cashback and rewards."
March 21, 2025
On the web
Crypto Regulation Finally Coming to Australia With Exchanges Facing Bank-Like Rules
SmartCompany
"The Australian government has unveiled long-awaited crypto regulations, requiring exchanges and fintechs holding digital assets to meet financial services standards."
March 18, 2025
Top Post
Visa Partners With Major Banks to Launch Vbip in Australia
IT Brief Australia
"Visa has announced a partnership with ANZ, NAB, HSBC, and Westpac to introduce Visa B2B Integrated Payments (VBIP) in Australia, aimed at enhancing and simplifying business-to-business transactions for companies of varying scales. The VBIP solution is integrated within the SAP Business Technology Platform, which helps businesses automate their B2B payments."
March 13, 2025
Top Post
AP+ works with Google to offer Least Cost Routing on Google Wallets [Australia]
Australian Payments Plus
"Australian Payments Plus (AP+) has worked with Google to roll out eftpos functionality and Least Cost Routing (LCR) on transactions made via the mobile Google Wallet, allowing merchants to choose to have more payments routed via the lower-cost eftpos network. ANZ and Suncorp Bank are the first two issuers live with eftpos multi-network debit cards in the Google Wallet, with other issuers to follow over the course of 2025."
March 11, 2025
On the web
Azupay and Gr4vy Partner to Transform eCommerce Payments with NPP-Powered Solutions
Azupay
"Azupay, Australia’s leading pure-play New Payments Platform (NPP) provider, has partnered with Gr4vy, a no-code payment orchestration platform, to bring real-time, account-to-account payment solutions to Australian eCommerce businesses. This collaboration enables merchants to leverage Azupay’s PayID, PayTo, and Pay by Bank offerings through Gr4vy’s payment orchestration platform to streamline transactions."
February 7, 2025
On the web
Is the End of Pesky Card Surcharges on the Horizon? [Australia]
Smart Company
"The Reserve Bank is undertaking a big study into card surcharging — with the goal of making them go away, or at least get much smaller.g a big study into card surcharging — with the goal of making them go away, or at least get much smaller."
January 31, 2025
On the web
NAB and Amazon Launch PayTo® Payment for Amazon Australian Customers
NAB News
"Customers shopping on Amazon.com.au can now use ‘PayTo’ to make a purchase directly from their bank account in a seamless, secure way, removing the need to provide card details."
January 27, 2025
On the web
New Law to Require Credit Licences for Providers of Buy Now, Pay Later Products [Australia]
The Lawyer Mag
"Buy now, pay later products will soon face stronger regulation with a new legal regime that seeks to better protect this country’s consumers, the Australian Securities and Investments Commission (ASIC) has said."
January 20, 2025
On the web
Banking Circle Signs Deal to Buy Australian Settlements Limited
MSN
"Luxembourg-based payment bank Banking Circle has agreed to acquire Australian Settlements Limited (ASL) for an undisclosed sum. The move is aimed at supporting Banking Circle’s vision to set up a global hub for real-time clearing and settlement, expediting its Australian expansion."
January 16, 2025
On the web
CBA Urges Reserve Bank to Scrap all Card Surcharges [Australia]
Australian Financial Review
"Commonwealth Bank has urged the Reserve Bank to scrap surcharges on debit and credit card payments, amid mounting consumer anger over the ubiquitous practice. This would bring Australia into line with overseas economies in Europe and the UK where the practice is banned."
December 3, 2024
On the web
Commonwealth Bank Slugs Some Customers With Ridiculous New Fee to Withdraw Their Money in Shock Announcement [Australia]
Mail Online
"Australia's biggest bank will soon charge some customers a fee if they want to withdraw their own money from branches. Customers of the Commonwealth Bank got a rude shock on Monday when the bank announced it was closing its 'Complete Access Account' and changing them to 'Smart Access Accounts'. But the new account will include a $3 fee tacked onto every withdrawal from a branch, a post office or phone, starting January 6."
November 20, 2024
On the web
‘Big Four’ Banks Test New AI-Based Fraud Tech [Australia]
Information Age
"Executives from some of Australia’s largest banks say social media and telecommunications companies are not doing enough to fight scams and fraud on their platforms, as the country’s financial giants reveal they are testing a new layer of security billed as a world-first. ANZ, Commonwealth Bank, NAB, Westpac, and Suncorp Bank announced they had begun piloting new tech from Israeli cyber security company BioCatch as part of their intelligence-sharing network."
November 19, 2024
Top Post
Cheques Transition Plan: Winding Down Australia’s Cheques System
Treasury
"Although they were once a cornerstone of Australia’s payment system, cheques now account for less than 0.1% of total volume of retail payments in Australia. Winding them down in a staged, responsible manner will help reduce transaction costs across the economy, drive down the costs of the associated goods and services and improve productivity."
October 31, 2024
On the web
2024 Annual Review: AusPayNet
AusPayNet
"AusPayNet’s 2024 Annual Review, ‘Making it happen’, reflects on our work throughout FY2024 to help facilitate the continued evolution of payments in Australia."
October 17, 2024
On the web
Mastercard, Visa Warning Over RBA Push to Change Card Fees: ‘No Such Thing as a Free Lunch'
Yahoo Finance
"Mastercard and Visa have warned of the "unintended consequences" if the Reserve Bank of Australia (RBA) makes changes to card fees. The RBA is conducting a large-scale investigation into the card system, how they affect people across the country, and whether they're still fit for purpose more than 20 years after they were introduced."
October 15, 2024
On the web
Reserve Bank of Australia Puts Payment Industry on Notice to Protect Shops, Restaurants
Australian Financial Review
"The Reserve Bank of Australia is considering restricting the fees that payments providers such as banks receive for processing debit card transactions, warning the cost on businesses may be too high. The central bank’s deliberations come as Labor prepares to ban retailers from passing on fees for debit card payments in the form of a surcharge."
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