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Trials of Australian bank issued EFTPOS debit cards with an integrated micro-chip have begun in the Victorian regional city of Bendigo. If successful, the trials will enable EFTPOS cards to offer the same advanced features as the competing debit card products from MasterCard and Visa. Managing Director of the EFTPOS industry body, EFTPOS Payments Australia Click on the title to read more EMV trials begin for Australian EFTPOS debit cards Melbourne based online retailer- Crazysales.com.au has been publicly identified as the merchant behind last month’s card security breach. The incident saw major banks cancelling an estimated ten thousands of Australians’ credit cards, and widespread national media coverage, including on ABC television news. CrazySales, which formerly advertised credit-acceptance via Westpac subsidiary – the St George Bank, Click on the title to read more Top ten Australian online retailer named in online card security breach Australia’s Reserve Bank is using claims that online merchants are gouging consumers as an excuse to announce new plans to limit ‘surcharging’ on credit-card transactions. “…[The incidence of surcharging is much higher for online purchases than those made in person” said the RBA in a new discussion paper – ‘Review of Card Surcharging: A consultation Click on the title to read more Online merchants rorting card surcharges says Reserve Bank of Australia It hasn’t been officially announced yet but both Visa and MasterCard are now allowing some Australian retailers to automatically approve any transaction worth less than $35. Not to be confused with the card giants’ recent contactless chip-card initiatives, where transactions less than $100 are automatically approved, the new programme includes all Visa and MasterCard Click on the title to read more Visa, Mastercard abandon authentication on low-value transactions inside a store 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 |
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