Tag: RBA

RBA inaction on merchant fees risks higher business costs

By Australasian Convenience and Petroleum Marketers Association (ACAPMA) CEO Mark McKenzie. In late 2017, ACAPMA began to receive inquiries from members about the rising cost of merchant fees (i.e. the charges levied...

Ombudsman calls for more support for small business

The Australian Small Business and Family Enterprise Ombudsman Kate Carnell says a lack of access to funding is the biggest barrier to growth for small businesses. “The most recent SME Growth Index revealed one in...

Industry heads host roundtable discussion on small-business finance

The Council of Small Business Australia (COSBOA) recently participated in a roundtable discussion about small-business finance convened by the Reserve Bank of Australia (RBA). The meeting was held in Sydney and co-chaired by...

Shoppers vote with their feet over card restrictions

Australian businesses could be losing up to 56 per cent of customers due to minimum spends or not accepting card as a payment method. A study commissioned by Mastercard revealed that four in...

New $10 banknote to be released this month

The next generation of $10 banknotes will be released into general circulation from September 20. This follows the release of the new $5 banknote last year. The new notes contain the same world-leading...

RBA rate cut

The Reserve Bank of Australia (RBA) has cut the cash rate by 25 basis points to a record-low 1.5 per cent. RBA Governor Glenn Stevens said in a statement the decision took into...

Preparing for new $5 note arrival in September

ARA Executive Director Russell Zimmerman is reminding retailers to prepare for the release of the new $5 note from the Reserve Bank of Australia. The note will be issued into circulation from September...

New standards for payment surcharges

Following the conclusion of its review into card payment regulation this week, the RBA announced three new standards which it says will contribute to a “more efficient and competitive” payments system. The new...
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