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Q&A with Kees Kwakernaak at Fiserv

Not many Australian businesses would have heard of Fiserv or be aware that it processes payments for global brands such as Google, Microsoft, and McDonalds, and is the largest global issuer processor and merchant acquirer. In an industry where ongoing availability is essential, Fiserv has continuously underscored their commitment to network reliability. Payments Consulting Network Managing Director Mangala Martinus recently had the opportunity to interview Kees Kwakernaak, Country Manager of Australia, New Zealand and the Pacific for Fiserv, to discuss the company’s merchant solutions business in Australia.   You can read [...]

Q&A with Mac Wang at Stripe

During the 12 months to February 2021, Australians spent almost $47 billion on online retail, equating to around 13% of total retail sales, and about 48% higher than for the 12 months to February 2020.[i] As a result, accepting online payments has become increasingly important for retailers. For time poor small business owners, the ability to process online payments within hours of completing an online application form and seamless integration with existing systems (e.g. Xero) are important criteria when selecting [...]

Building a Successful Omnichannel Experience

The COVID-19 pandemic in 2020 resulted in significant change in consumer behaviour in Australia as store closures due to lockdowns caused more people than ever before to shop online. Based on research by Australia Post, more than 200,000 new shoppers purchased something online for the first time, and over a third of new shoppers made multiple purchases in April 2020.[i] This experience has been reflected in international research with an Adyen Retail Report on the retail and food and beverage businesses across Europe, [...]

Interview with Mark Nagy of DataMesh

Payments Consulting Network managing director, Mangala Martinus, recently caught up with Mark Nagy, CEO of DataMesh Group, to discuss how the company is addressing merchant requirements and future payments trends.

Least-cost routing explained

Merchants across Australia are faced with constant pressure on margins. Given that payment costs can be significant, it’s not surprising that merchants are paying increasing attention to them. We’ve done some homework to help you understand least-cost routing, the benefits, and considerations. What is least-cost routing? Least-cost routing is where a merchant chooses to route a debit card transaction to the lowest cost network for that transaction, which in many cases will be the eftpos network. ‘Least-cost routing’ is [...]

Peak industry associations join forces to promote least-cost routing

Five of Australia’s leading retail industry associations have called on banks to be more proactive in educating their business customers on least-cost routing and making it easier to access the huge savings to be achieved by it.  COSBOA, the Australian Retailers Association, National Retail Association, Master Grocers Australia and the Australian Convenience and Petroleum Marketers Association, say it’s time for Australian banks to be called out on their lack of transparency and efforts to inform businesses that they have [...]

What is Interchange and Why Does it Matter?

Even if you have never heard the term ‘interchange’ this article is for you as we look at what it is, why it exists and whether it matters to merchants who accept Card Scheme-branded (Visa, Mastercard and eftpos) payment cards either online, in-store or both. The payment cards market is ‘two-sided’ with merchants and Acquirers on one side, and with cardholders and Issuers on the other side. Acquirers provide card-acquiring services to merchants in exchange for a Merchant Service [...]

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