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Australia’s giant retailers Woolworths and the Wesfarmers-owned Coles are the big winners from a new deal on EFTPOS fees announced this week by EFTPOS Australia Limited (EPAL). So too are the big fast-food chains like McDonalds, and the big petrol retailers – Caltex, BP and Shell. But more than half a million Australian businesses can Click on the title to read more New EFTPOS deal to cost Australian small businesses $200million a year in higher bank fees Proposed new Reserve Bank of Australia (RBA) rules could help Australia’s EFTPOS system regain lost ground from Visa and Mastercard. The new rules are intended to see the same system of regulatory standards applying to both EFTPOS and scheme debit cards. Australian banks will be able to earn the same wholesale fees on EFTPOS card Click on the title to read more RBA proposes new deal for wholesale EFTPOS fees Australia’s major banks aren’t interested in a safer, EFTPOS-based system for online payments. They prefer to lock online shoppers and merchants into the riskier, more expensive (and profitable) global schemes of the US credit-card companies, Visa and Mastercard. That is abundantly clear from an online payments discussion paper released this week by the Australian Payments Click on the title to read more Australian banks not interested in safer alternatives to Visa and Mastercard for online payments If it looks too good to be true it probably is. And a guaranteed 20% return definitely looks too good to be true. But thats exactly what promoters of an Automated Telling Machines (ATMs) investment scheme, including former Federal Liberal MPs, Grant Chapman and Ross Cameron, are offering. Even more remarkable is that the promoters Click on the title to read more ATM Reforms produce guaranteed 20% investment return? |
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