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RBA Submission – Review of Retail Payments Regulation Consultation Paper

Payments Consulting Network (which powers Merchant Pricing Hub) has made a submission to the Reserve Bank of Australia in relation to its Review of Retail Payments Regulation Consultation Paper. Over the last 12 months we have supported over one hundred small, medium, and large businesses, industry associations, and not-for-profit organisations, to lower the cost of payments and improve service levels. Least-cost routing has been an important enabler in helping us achieve significant cost savings for clients. The submission outlines our position [...]

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 [...]

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 [...]

A Global Guide to Fintech and Future Payment Trends

Author and PCN Associate Peter Goldfinch has launched a book titled A Global Guide to Fintech and Future Payment Trends. The payment system sector of banking and finance touches all global citizens. Being able to make and receive payments determines our standard of living. In developed countries like Australia and the United Kingdom the payment system is sophisticated. However, in emerging economies the under developed payment systems are holding back economic and social development. This is why the World Bank, [...]

New Payments Platform Functionality and Access Consultation Submission to RBA

On 29 October 2018, the Reserve Bank, with input and assistance from the Australian Competition and Consumer Commission, sought views from interested stakeholders about the functionality of, and access to, the New Payments Platform (NPP). PCN submitted a response. See: https://www.rba.gov.au/payments-and-infrastructure/new-payments-platform/submissions/payments-consulting-network.pdf PCN's full submission click here: https://www.rba.gov.au/payments-and-infrastructure/new-payments-platform/submissions/ other submissions are available here: Author: Robert Roylance, Associate, Payments Consulting Network.

Payments Consulting Network Selected as One of Westpac’s 2018 Businesses of Tomorrow

Payments Consulting Network (PCN) – which runs Merchant Pricing Hub – has been selected as one of Westpac’s 2018 Businesses of Tomorrow. Two hundred Australian businesses were recognised as part of the program for their vision and drive to help shape the nation’s economic future. PCN is a specialist consultancy that offers in-depth strategy, market research, technical and benchmarking expertise across all payments products, channels and platforms. Mangala Martinus, Founder and Managing Director of PCN, was pleased to be [...]

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