Posts by jamesling
Banks lose to Apple Pay in competition stoush
Well it’s official. The Australian Competition and Consumer Commission (ACCC) has finally determined that the “banks” (CBA, Westpac, National and Bendigo & Adelaide Bank) are not allowed to collectively negotiate with Apple for access to the NFC chip on iPhones and corresponding access to the App Store. Although the ACCC agreed that access would in some…Read More
Will Apple Pay win its fight against Aussie banks and retailers?
Apple is currently in a major scrap with Australian banks and retailers over its control of the NFC chip on eligible iPhones. A consortium of banks and retailers have asked the Australian Competition and Consumer Commission (ACCC) to rule that they can collectively negotiate with Apple rather than having to negotiate individually. Apple is fighting…Read More
How do interchange fees work?
What are interchange fees? Interchange fees are the fees exchanged between acquirers, issuers and the card schemes to which they belong. Interchange fees are usually related to the value or number of card payment transactions and are set by the card schemes for their acquirer and issuer members. The direction of interchange fee flow also varies…Read More
How does a card payment work?
Most of us are comfortable these days with using a credit or debit card to make a payment, whether in store or increasingly, online. But how many of us really know how the card payment works and what’s happening behind the scenes? And how many payments professionals might shamefully concede that the underlying flows are…Read More
Should Visa and MasterCard be scared of Apple and Google?
If Visa and MasterCard are the toll roads for payments between consumers and merchants, then Apple Pay and Android (Google) Pay are the new class of on-ramps. The risk for Visa and MasterCard is that Apple and Google eventually activate the corresponding exits that deliver payments from the payers (consumers) to the payees (merchants) and…Read More
7 ways to improve your merchant acquiring bottom line
Is competition, churn and increasing cost hurting the bottom line of your merchant acquiring business? Are you struggling to differentiate your offering from a swathe of “me too” competitors, or worse, looking pale by comparison with emerging fintech startups? If so, you are not alone. Merchant acquirers everywhere are feeling the heat and searching for…Read More
Is Dynamic Currency Conversion dead?
Many acquirers, merchants and even some cardholders will be well aware of Dynamic Currency Conversion or DCC as it’s commonly referred to. DCC involves a cardholder being offered the choice to choose their own currency during an international Visa or MasterCard transaction at the point of sale, as opposed to the normal process which does…Read More
Welcome to the (payments) revolution
Are you ready for the challenges and opportunities that the “fintech” wave is bringing to the world of payments? Are you a traditional bank, acquirer or processor looking to navigate the stormy waters ahead? The payments revolution is upon us and the pace of change continues to accelerate. Disruption and innovation will create enormous value for some…Read More