Australian Newsagency Blog

A blog on issues affecting Australia's newsagents, media and small business generally.

Entries Tagged as 'EFTPOS fees'

Take care comparing EFTPOS contracts

May 5th, 2014 · 8 Comments

If you are called by a bank or another party to take on their EFTPOS service, take your time to research and compare the offer. Ensure the fees are competitive, that there are no hidden extras and that any contract they want you to sign is for a period of time you are prepared to […]

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Tags: EFTPOS fees · Newsagency management · Newsagency opportunities

PC-Eftpos under fire in Myer Christmas Eve outage

January 7th, 2014 · No Comments

The Australian Financial Review yesterday reported on a Christmas Eve It outage for the Myer department store. The AFR report points to issues related to PC-EFTPOS. This is a bridge commonly used when connecting POS software to a bank. With many hundreds of newsagents using Tyro it’s worth noting that PC-EFTPOS is a competitor (with […]

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Tags: EFTPOS fees

Tap and go under fire for easing theft

October 23rd, 2013 · 17 Comments

The tap and go payment method came under fire yesterday morning on Melbourne radio with plenty of people complaining about cards being stolen and them being used quickly to rack up many quick purchases. The thrust of the complaints by consumers was that these tap and go cards made theft easier. One retailer who called […]

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Tags: EFTPOS fees · Newsagency management

New Visa card surcharge rules come into force today

March 18th, 2013 · 30 Comments

New rules come into force today on the application of surcharges for processing payments made by a card. The RBA website has background to the creation of rules relating to surcharge here. It’s worth newsagents checking out the Visa press release here. Visa’s new rules apply from today. It’s also worth reading what change.org is saying […]

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Tags: EFTPOS fees · Newsagency management

Tyro beats bank EFTPOS at the counter

December 24th, 2012 · 25 Comments

While the Commonwealth Bank has been spending up big promoting fast settlement of EFTPOS transactions for retailers, they have done nothing speed up transactions at the counter from what I can see. A colleague waited two minutes last week for a Comm. Bank EFTPOS unit to dial, connect and approve a transaction. Shoppers leave when […]

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Tags: EFTPOS fees

Tyro offers newsagents a more secure solution

December 12th, 2012 · No Comments

A story from BankingDay, a banking industry publication, highlights the importance of security and helps underscore the value of the tyro broadband EFTPOS solution for newsagents. Tyro has have created a technically better and more secure solution that protects the merchant (the newsagent) from the sort of compromises that out of date banking technology all […]

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Tags: EFTPOS fees · Newsagency management · theft

The Threat of Real Distortions in the EFTPOS Market

August 2nd, 2012 · 9 Comments

Tyro, the EFTPOS partner for many hundreds of newsagents, today issued a press release relating to their submission to the RBA on EFTPOS. It starts with… Australia’s four major banks and Woolworths and Coles will potentially be the big beneficiaries if a new regulation of the EFTPOS payments system is allowed to proceed, the country’s only independent […]

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Tags: EFTPOS fees

Tyro responds on RBA EFTPOS fee changes

June 29th, 2012 · 37 Comments

Tyro, the EFTPOS service now used by more than 1,000 newsagents, has published guidance on EFTPOS fees in the wake of changes announced by the RBA in relation to EFTPOS fees. The EFTPOS fee issue will need to be watched carefully by newsagents as EFTPOS has been a plaything of the major banks and the […]

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Tags: EFTPOS fees

Welcome moves by RBA on EFTPOS fees

June 13th, 2012 · 4 Comments

I was pleased to see the announcement from the Reserve Bank yesterday banning excessive EFTPOS related fees. While the regulation is not as simple as it should be, it is a start.  My concern is that it is open to interpretation and you need to complain for an issue to be resolved. The RBA also […]

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Tags: EFTPOS fees · Newsagency management

If you bank with ANZ…

April 19th, 2012 · 4 Comments

A few weeks ago the ANZ Bank whacked retailers, including newsagents, with an increase in EFTPOS fees. Last week they increased small business loan rates as well as home loan rates. Along they way they have continued to charge hefty fees at every opportunity from overdrafts to account fees. Newsagents who want to reduce the […]

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Tags: EFTPOS fees

Setting the record straight

March 1st, 2012 · 25 Comments

This is what Bernard Zimmermann, Director of POS Solutions published at his company blog today: After what happened last week where many of my clients got cut off EFTpos. It is a concerning when now EFTpos is between 25% to 100% of a retailers’ income, there were two major outages once with Westpac last Tuesday […]

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Tags: EFTPOS fees

St George bank cares less about newsagents

December 7th, 2011 · 10 Comments

Just a few years ago St George Bank was crowing about deals for newsagents in a push to win over newsagents for EFTPOS processing.  Now, the bank is rewarding loyalty by increasing fees to newsagents.  Some EFTPOS related fees have increased 100%.  I am not away of any increase in costs to St George which […]

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Tags: EFTPOS fees · Ethics

The challenge of higher EFTPOS fees for retailers

October 13th, 2011 · 1 Comment

I am grateful to Hank Spier for chasing the following notes with me on the issue of the EFTPOS fee increase engineered y ePAL, the body controlled by the major banks plus Coles and Woolworths. In February 2011 EPAL announced a new multilateral interchange fee regime to replace the existing bilateral arrangements. EPAL is made […]

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Tags: EFTPOS fees · Newsagency challenges · Newsagency management · retail

ASIC, the reserve bank and the federal government failed Australians on EFTPOS issue

October 5th, 2011 · No Comments

Where is the federal government on the EFTPOS fees issue?  Nowhere. Where is ASIC on the issue?  Nowhere.  I would have thought that ASIC could pursue ePAL for misleading conduct.  The still could I guess.  Will they?  Probably not. Where is the Reserve Bank, the organisation which created the situation? Nowhere. The federal government – […]

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Tags: EFTPOS fees · Ethics · Social responsibility

MasterCard blames retailers for fees

October 3rd, 2011 · No Comments

In a submission to the reserve bank, MasterCard says that some retailers are gouging on fees they charge shoppers for using their MasterCard.  The Australian has the story today. While I am not concerned if the reserve Bank does introduce a cap on what we can charge for the use of a MasterCard or Visa […]

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Tags: EFTPOS fees · Newsagency management

ALDI challenges banks on EFTPOS fees

October 3rd, 2011 · No Comments

Aldi released a media announcement on Saturday keeping up pressure on the banks over EFTPOS fees. Here is the full announcement: ALDI calls for proof that banks’ internal costs will increase due to changes to EFTPOS interchange model ALDI is today calling for Australian banks to prove their net costs are increasing as a result […]

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Tags: EFTPOS fees

Aldi vs ePAL coverage

October 1st, 2011 · 2 Comments

There has been considerable media coverage on the Aldi court case against ePAL over the last 24 hours.  Here is just some:  Inside retailing; The Australian; Smartoffice; ABC, AM on ABC radio and ABC news last night. Also good to see the story in The Australian with news that the Commonwealth Bank will not be […]

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Tags: EFTPOS fees · Newsagency challenges

Aldi versus ePAL judgement

September 30th, 2011 · No Comments

Click here to see the full judgment delivered by Justice Jacobsen of the Federal Court in the case brought by Aldi against ePAL, the EFTPOS payment scheme operators. While the judgment represents a comprehensive win for Aldi in their complaint against ePAL, it does not stop the unfair changes to the EFTPOS fee regime which […]

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Tags: EFTPOS fees · Ethics · Social responsibility

Aldi wins in case against EPAL

September 29th, 2011 · No Comments

Judgment in the case brought by Aldi against EPAL around their communication regarding the likely impact of changes to EFTPOS fees has been handed down this morning in Aldi’s favour.  EPAL has been required to publish corrective communication.  Costs were awarded to Aldi. While this does not address the impact of the new fees levied […]

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Tags: EFTPOS fees · Ethics · Social responsibility

Details on the Aldi claim against EPAL

September 16th, 2011 · No Comments

Futher to my post yesterday, click here for a copy of the Statement of Claim lodged by Aldi in the Federal Court about EPAL behavior around EFTPOS fees and behaviour by banks at the same time.  Westpac and NAB have announced fee hikes on the back of the EPAL move. Aldi’s case is that EPAL […]

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Tags: EFTPOS fees · Newsagency challenges

Aldi takes on EPAL over EFTPOS fees

September 15th, 2011 · 5 Comments

Supermarket group Aldi has taken legal action against EPAL over its position regarding EFTPOS fees. The Aldi action centres on transparency of the EFTPOS changes being brought in by EPAL.  Click here for a copy of the Aldi media release on this matter. Aldi would welcome hearing from any retailer with news of an increase […]

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Tags: EFTPOS fees · Ethics · Social responsibility

Tyro fights for newsagents on looming EFTPOS fee hike

September 12th, 2011 · 7 Comments

Click here to see a press release issued on Friday last week by Tyro, the broadband EFTPOS processing business loved by newsagents. This press release continues to raise the issue of fairness as embodied by this quote from Jost Stollmann, CEO of Tyro. “We certainly consider it unfair for Australia’s shops to face the risk […]

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Tags: EFTPOS fees

EPAL retreats on EFTPOS feek hike position

September 10th, 2011 · 3 Comments

As I have been writing here for some time, EFTPOS fees are set to increase from October thanks to a decision by EPAL, the organisation created by the Reserve Bank and controlled by the major banks plus Coles and Woolworths.  Oh, and I have noted that Coles and Woolowrths are set to not face any […]

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Tags: EFTPOS fees · Newsagency challenges · Newsagent representation

Great coverage for ANF campaign on EFTPOS fees

July 27th, 2011 · 3 Comments

Congratulations to the ANF for excellent coverage last weekend in five major newspapers on their fight on behalf of all newsagents on the new EFTPOS fees which are set to take effect in a few months. The effort invested in getting this coverage for newsagents would have been considerable. It is a good example of […]

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Tags: EFTPOS fees · Newsagency challenges

EFTPOS fee coverage on A Current Affair last nighr

July 26th, 2011 · No Comments

Click here to see a story on A Current Affair last night about the EFTPOS fee hike facing newsagents and other retailers.  This story came about as a result of excellent work on this issue by the ANF. I have been calling on newsagents to get onto this issue, lobbying parliamentarians and the like.  It […]

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Tags: EFTPOS fees