Australia

Australian Banks Refund $19 Million to Low-Income Customers
Australian Banks Refund $19 Million to Low-Income Customers
July 15, 2024  |  Bank Regulation

Banks in Australia are issuing $19 million in refunds to low-income customers. The move follows an investigation by the Australian Securities and Investment Commission, which...

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Australian Banking Association: Open Banking Rules Need ‘New Pathway Forward’
Australian Banking Association: Open Banking Rules Need ‘New Pathway Forward’
July 08, 2024  |  Bank Regulation

Australian Banking Association (ABA) CEO Anna Bligh said its “time to go back to the drawing board” when it comes to the country’s open banking rules....

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Court Ruling: PayPal Australia Unfair to Small Merchants
Court Ruling: PayPal Australia Unfair to Small Merchants
July 05, 2024  |  Legal

Australia’s federal court has ruled that a term in PayPal’s contract for local small businesses is unfair. The reason, the court ruled Friday (July 5)...

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Australia Leads Global BNPL Charge, Triples US Adoption Rate
Australia Leads Global BNPL Charge, Triples US Adoption Rate
June 28, 2024  |  BNPL

As buy now, pay later (BNPL) options become more common around the world, the Land Down Under is leading the charge by a considerable margin....

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Australian Bank Spots Scams via How Users Hold Their Phones
Australian Bank Spots Scams via How Users Hold Their Phones
June 26, 2024  |  Security & Fraud

Can the angle at which you hold your phone help your bank protect against scams? National Australia Bank seems to think so. Speaking during the...

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Reserve Bank of Australia Favors Surcharging in BNPL Sector
Reserve Bank of Australia Favors Surcharging in BNPL Sector
June 20, 2024  |  BNPL

The Reserve Bank of Australia (RBA) plans to review the issue of surcharging in the buy now, pay later (BNPL) sector. This review comes as...

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Australia’s Mobile Wallet Use Surges 12,000% Amid Cash Shortage
Australia’s Mobile Wallet Use Surges 12,000% Amid Cash Shortage
June 03, 2024  |  Cash

Paper money use is reportedly waning in Australia amid troubles at its top cash supplier. Linfox Armaguard, which moves 90% of cash to the country’s...

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Australia Targets ‘Heavy Imbalance’ in Supermarket Sector
Australia Targets ‘Heavy Imbalance’ in Supermarket Sector
April 08, 2024  |  Retail

Australia is reportedly stepping up efforts to regulate its supermarket sector. A new government study, the subject of a Monday (April 8) report by The...

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Meta Dropping Facebook News in US, Australia in April
Meta Dropping Facebook News in US, Australia in April
March 29, 2024  |  Meta

Meta will close Facebook News in the United States and Australia in April. This move comes after the company did the same thing in the...

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