Perfume and petrol: what two April data drops reveal about the Aussie wallet
Experian’s latest Business Pulse paints one picture of the Australian consumer. CommBank’s March Household Spending Insights paints another. Read them side by side, and the shape of 2026 gets interesting fast.
The Interchange Bench
On The Interchange Bench this week, the RBA PR machine goes nuts on cash, APRA passes the buck on Binance, Azupay urges merchants to switch to NPP, Airwallex invests in C-suite compliance, Pay.com.au packs up its IPO, Kemper to head SEON commercial, NAB searches for a real-time tech head, AMEX joins the AI party and Bolt goes to Bangkok.
Perfume and petrol: what two April data drops reveal about the Aussie wallet
Experian’s latest Business Pulse paints one picture of the Australian consumer. CommBank’s March Household Spending Insights paints another. Read them side by side, and the shape of 2026 gets interesting fast.
The Interchange Bench
On The Interchange Bench this week, the RBA PR machine goes nuts on cash, APRA passes the buck on Binance, Azupay urges merchants to switch to NPP, Airwallex invests in C-suite compliance, Pay.com.au packs up its IPO, Kemper to head SEON commercial, NAB searches for a real-time tech head, AMEX joins the AI party and Bolt goes to Bangkok.
PayNuts unveils refreshed brand and solutions
PayNuts has unveiled a refreshed brand identity and an expanded suite of integrated business solutions designed to woo small businesses.
Mystery to shroud BECS future until July: AusPayNet
Despite potential impacts on NPP-centric fintechs and other payments stakeholders, AusPayNet won’t make public the results of its assessment of options to upgrade the Bulk Electronic Clearing System (BECS) until July.
As fuel soars Visa and Mastercard take aim at Australia’s fleet card market
The global payments giants are partnering with big banks like Westpac to move into territory long dominated by Fleet Card and WEX’s Motorpass, and petrol station operators said the incumbents have had it too good for too long.
Blackhawk launches stored value platform for consumer engagement
The new platform unifies refunds, promotional dollars, loyalty rewards and gift cards into one consumer balance that serves as a retention and marketing tool for brands.
Cuscal spends $48m on NZ EFTPOS network amid sector modernisation program
The Reserve Bank of New Zealand is keen to prioritise an account-to-account network but industry body Payments NZ is concerned that security issues should take priority.
Wake up! Only 162 days before surcharge ban kicks in
With just 162 days left until the first round of changes to Australia’s retail payment system, the payments industry is having mixed reactions to the most significant changes in a generation, but you wouldn’t know it.
ASX finally live with $125m CHESS Release 1
After years of regulatory pressure and a significant system crash, the ASX is finally live with CHESS Release 1, with all Approved Market Operators advised they were successfully connected this week.
Sydney’s Hello Clever teams with Checkout.com on global AI and rewards play
A new deal with Checkout.com aims to further expand Sydney based Hello Clever’s international growth strategy, having already established regional headquarters in Singapore, New York, and Tokyo.
Transport for NSW delivers concession transit while Littlepay turns on Wellington tap
While Melbourne’s myki tap and go transit payments trial continues, a local fintech has delivered a working system to New Zealand’s capital Wellington in just 6 months. Meanwhile, NSW has finally delivered a tap option for concession travellers.
Why the Government won’t move to NPP except in emergencies
The Reserve Bank has told a Parliamentary Inquiry why Government agencies aren’t moving to the New Payments Platform except in emergency situations – and it’s still all about bulk payments, reach, resilience and cost.
Global processor Paymentology partners with Cuscal and Constantinople to expand into Australia
Global issuer-processor, Paymentology is expanding down under forming strategic partnerships and marking a significant milestone in its global expansion strategy.
The NFC chip, the banks, and the distraction from the bigger payments fight
As the Reserve Bank mulls over the scope of its second payments consultation, it must consider whether regulating Google and Apple will really produce a more resilient and efficient payments system for consumers and merchants, or just deliver a win for the banks?
Cash use trending up and “essential”: RBA
With $107 billion in cash notes circulating in the economy, the Reserve Bank reaffirms its commitment to “ensure cash remains a viable means of payment”. New data shows around half of Australians use cash every week, and about 1.5 million adults rely on it as their main form of payment.
The Woolies transaction that sparked a $1 trillion revolution in Aussie card payments
After processing the first EFTPOS transaction back in 1984, Woolworths sparked an electronics payments revolution that now sees Australians make more than $1 trillion in card payments a year. 42 years on and WPay Managing Director Chris Mills said Woolworths payments ethos remains the same – giving customers choice and convenience.
New eftpos brand campaign
Australian Payments Plus (AP+) has launched a new eftpos merchant brand campaign, coinciding with the 42nd anniversary of the first electronic card payment.
From cheque books to agentic AI: Global Payments looks at how Australia’s payments system grew up
Forty-two years after Australia’s first eftpos payment was made in a Sydney supermarket, Global Payments, Head of Integrated and Platforms for APAC, Masseh Haidary, looks at how the payments world has changed – Australians now tap watches ride the NPP and argue about surcharges. The infrastructure underneath all of that? Still evolving, still contested, still fascinating.
CBA and the evolution of Aussie payments
As the biggest player in the market, the Commonwealth Bank has been at the forefront of electronic payment milestones for the past 40 years, supporting Australians to adapt to the ever-changing payments landscape. The bank’s payments leaders, Albert Naffah and Alison Chang, take a close look at the payments evolution.
First with Apple Pay and an early investor in NPP, ANZ strives for innovation
ANZ’s Managing Director Transaction Banking, Lisa Vasic, explains that as the first bank to introduce Apple Pay to the local market, ANZ continues to drive innovation in the payments ecosystem.
From click-clack to tap-and-go
Forty-two years ago, the first electronic ‘eftpos’ transaction occurred on a Westpac Handicard at a Woolworths Supermarket. Payments expert, engineer and industry veteran Simon Greig explains exactly what that involved and why it matters.
How eftpos changed the way Australians pay
Australian Payments Plus (AP+) General Manager Retail Payments, Colin Sultana explains that the first eftpos transaction marked the beginning of electronic payments in Australia – demonstrating, for the first time, how funds could move digitally between a card-issuing bank and a merchant.
Shift4 in the frame as Cuscal moves on NZ Paymark
Cuscal is buying New Zealand’s answer to eftpos – Paymark – in a deal that may secure a brighter future for one of its biggest customers, Shift4, in the land of the long white cloud.
Accommodation providers look for cheaper pay options in wake of surcharge ban
With Australia’s planned ban on card surcharges set to take effect on 1 October, GoCardless said accommodation providers are seeking lower-cost payment alternatives to protect margins.
The RBA killed the one tool that could help SMEs navigate the surcharge ban
The Reserve Bank, the same regulator that banned surcharging, has also killed the idea of a payments comparison website, the one tool that would have let small businesses actually shop around for a better deal on card acceptance fees. And it did so despite Australia’s biggest bank offering to pay for it.
The Interchange Bench
On The Interchange Bench this week DataMesh looks for a new CEO as Nagy moves on, Noor farewells Cuscal acquiring, Lacey becomes AFCA’s first Chief Scams Officer, Poblocki bounds from Binance to Finmo, Wormald peddles Click To Pay as fraud fix, Westpac continues to woo surcharge ban victims, AP+ runs A2A session for PSPs, and Awad moves on from Tyro marketing.
Bolt repurposes AP+ white elephant Beem after Binance setback
As it looks to recover from an embarrassing short-lived relationship with controversial crypto wallet Binance, Bolt Group’s latest move is to give Beem a facelift and turn it into a “true everyday money app”.
Schemes allow surcharging in the US as RBA shuts the door here
In a cruel irony for Australian small businesses, Mastercard and Visa have changed the rule book in the US to allow surcharging on credit cards, just as the Reserve Bank of Australia bans the practice in Australia.
ACCC takes on Mastercard in Federal Court
The ACCC’s landmark competition case against Mastercard opened in the Federal Court on Monday, with senior counsel for the regulator, John Sheahan, walking Justice Wigney through the evidence.
Coinbase’s green light with AFSL
In an Aussie first, Coinbase will bring perpetuals, futures, options, and a full suite of financial products to one of the world’s most engaged crypto markets thanks to a retail derivatives authorisation.
Delays and outlook see EML shares dive
ASX listed EML’s new CEO Adam Olding faces a serious challenge after the company’s revised outlook saw shares take a big dive on Monday.
Commercial card printing frenzy as banks chase interchange
The RBA’s commercial card carve-out has handed banks, schemes and loyalty programs a licence to hunt 4m ABN holders in Australia to fill $910m revenue hole.
Cash still growing as ATM withdrawals hit a six-year high and debit surges
ATM withdrawals reached $9.3 billion in February, the highest single month since July 2020 when $9.7 billion was withdrawn. It is the only form of cash access still growing, up 2% annually as debit card usage continues to surge.
Bank lobby conflates NPP costs with cards fees … and threatens more fees!
Small businesses and cardholders might soon be paying higher card fees to help the big banks’ build the New Payments Platform (NPP) and defend their profits from multinationals, according to bank lobbyists.
Bowser bandits target fuel cards and petrol pumps
Desperate motorists have resorted to stealing fuel cards from rental cars or simply speeding off without paying for petrol.
The Interchange Bench
On The Interchange Bench this week Askew hangs up the Coles apron, ANZ’s Papahatzis dons the pay cap at QBE, Pyng plays “free” Fintech bingo, Monoova pokes the payments pooch for April fools, and AP+ slow releases consultation via drip feed LinkedIn.
Rubin takes local Chair for Airwallex
Business leader and Reserve Bank of Australia Governance Board Director Elana Rubin has been appointed local Chair at Airwallex.
“Own goal”: 87% of Aussies brace for 3.5% price hike after surcharge ban
New research from Money.com.au reveals that just one-third of Australians support the government’s surcharge ban, with 87% expecting retailers to respond by raising prices, potentially triggering a fresh inflation spike at the worst possible time.
Citizens left holding the bill as the government undermines its payments reform agenda
As Canberra bans surcharges in October, a glaring loophole has been left open that hands NAB the country’s biggest commercial card windfall. Taxpayers will be forced to cover the cost of expensive corporate credit cards used to pay for government services, while public servants will inflict pain on small businesses every time they open their wallets, forcing up prices.
How the RBA created the surcharge snafu it now blames on others
Amidst high inflation, global uncertainty and surging fuel prices, Michele Bullock announced the controversial surcharging ban last week by saying the system “no longer works as intended.” What she didn’t say is that she was one of the people who made it work the way it did.
AI driven social media scam surge warning: Westpac
Westpac is warning Australian businesses and households to brace themselves for a “new wave of personalised, AI driven scams” this year, and wants social media platforms to step up.
Feedback on costly NPP bulk payments solution due today
As the industry struggles to satisfy the Reserve Bank that the New Payments Platform can deal with the Government’s high priority bulk payments for essential services including welfare, veterans, pensions and the public service payroll, Australian Payments Plus is looking for feedback on a potential fix – but it comes with a big price tag and ongoing costs.
“The fees don’t disappear”: voices calling foul on Australia’s surcharge ban
Over the past week, commentary from across industry – Brad Kelly, the co-founder of the Independent Payments Forum (IPF), John Arnott, Director of AMP Bank Go, Jason Bryce, a Melbourne-based financial journalist and founder of CashWelcome.org, and Dr Fei Gao, Lecturer from the University of Sydney Business School – has highlighted the level of concern about the RBA’s decision during a period of high inflation and economic uncertainty.
Platform trap: Captured SMEs exposed to card fee shock
After announcing a surcharge ban on both credit and debit, the RBA’s remedy for small businesses to avoid card fee shock was to shop around for cheaper payments options. With just 176 days to run until the 1 October deadline, this simplistic economist view ignores just how deeply platform players like Xero, MYOB, Stripe, Square and Shopify have embedded themselves into Aussie businesses.
Meta’s $10B blind spot for illegal tobacco and gangland payments
Facebook and Instagram have become a digital shopfront for criminal tobacco gangs and the payment platforms, including Stripe and PayPal, that enable their operations – all delivered by Australia Post.
Game on. PSPs and acquirers fight to survive in a post-surcharge world
Ahead of what is likely to be the biggest Payment Service Provider (PSP) and acquiring market shakeup in decades, Tyro, Zeller, Westpac and CBA are already wooing customers for the post-surcharging world, while ANZ remains mum on its plans for ANZ Worldline.