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Join FinTech Connect – Asia’s Ultimate FinTech and Payments Summit

Asia’s Ultimate FinTech and Payments Summit is here. Be Part Of A Global Community. FinTech and PayTech Connect Asia is the only hybrid summit in the region that brings together the top minds from the industry from the major retail banks, buy side and merchants. It is the market leading annual meeting place for 500+ Heads of Digital Transformation and Payments. We’ve been delivering FinTech Connect for over 7 years and it’s built for practitioners, by practitioners - Whether you're a CEO or a rising star, a start-up or multinational company, [...]

What do retailers think about BNPL?

The term ‘Buy now pay later’ (BNPL) is what we think of when customers can take home their purchase but pay for it over time.   Once, this kind of ‘pay later’ shopping was about applying interest-free periods after the purchase, during which no payments are made, and no interest charged. Immediately following this interest-free period, payments were expected in full, otherwise the interest from the original time of purchase was added. That interest could be substantial.  It’s an option that seemed good – on the surface at least [...]

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 [...]

Aussie Small Business urged to research their options to avoid waste in merchant fees

Many of Australia’s 2.1 million small businesses are wasting hard earned revenue by not investigating the best payment service provider, nor making the most of least-cost routing, according to a specialist payment consulting firm. Payments Consulting Network warned most small retailers, who often don’t have time to research or money to appoint specialist consultants to determine the best option, were not aware of least-cost routing or other opportunities available in the payment landscape. The warning comes as Payments Consulting Network [...]

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