Business
Eftpos goes digital for the first time as retailers push for low-cost payments – Sydney Morning Herald
Australia’s debit card system Eftpos will begin processing digital payments for the first time in its 35-year history.
However, Eftpos is hoping its foray into the online space will get more merchants using its payment rails, estimated to be 40 per cent cheaper than alternatives such as Visa and Mastercard, savings that could be passed on to consumers.
Running payments through cheaper networks like Eftpos rather than its competitors is known as “least-cost” routing, and has been a focus for industry bodies and the Reserve Bank of Australia, which are concerned merchants are being stung by unnecessarily high fee…
-
Noosa News16 hours agoGirl’s death in a Queensland cult
-
General16 hours agoTeen driver on cocaine racing to Perth nightclub before high-speed crash that killed Nick Campo, court hears
-
Noosa News16 hours agoAirbnb owner hit with disturbing email after house trashed by hundreds of teens
-
Noosa News15 hours agoPolice hunt man who assaulted two women working at Pizza Hut in Townsville