“Recipe for disaster”: Consumer groups call for ad ban on BNPL for groceries, medicines
Consumer groups warned the focus on purchases of up to $2000 was too low as high-value buy now pay later loans also carried financial risk for any kind of borrower.
Digital transactions boom as older Australians in remote regions ditch cash
The starkest change is among the 65-year-old and older age group, which has reported a 69% drop in cash usage since 2007.
Cash to stay afloat as money mover Armaguard receives $50 million life raft
A deal reached between Armaguard, the banks, and Australia’s largest retailers securing the cash-in-transit service’s future, is good news, for now, for those Australians who still use cash.
All work, no pay: Australia’s underpaid migrant workers need urgent reforms
The widespread underpayment of migrant workers in Australia is now well-documented, and the vast majority never recover the wages they are owed.
Bosses pocket 14% higher salaries as workers battle cost of living pressures
The survey of 1089 companies found the average fixed remuneration of a chief executive of an ASX 200 listed company was $1.37 million in 2023-24, up from $1.14 million in 2022-23.
‘Abandoned, disrespected’: Rural branch closures inquiry calls for more banking regulation
The Senate inquiry into branch closures across rural Australia released its final report, after the committee spent a year travelling across the country hearing about the effects on everyday life and business when a rural bank shuts its doors.
Late payments creating mental toll for cash-strapped small business owners
Letting invoices go unpaid has a significant mental toll for small business owners, according to a new survey that ties late payments to soaring stress levels.
Julie Collins: Payment times reforms will be a shot in the arm for small businesses
Minister for small business Julie Collins explains how the overhaul to the Payment Times Reporting Act 2020 will help level the playing field for small businesses.
Money transportation is becoming uneconomic. Is this the end for cash?
Moving cash around by companies like Armaguard was already expensive. But the dramatic fall in cash usage has further increased the unit cost of this process.
Money mover Armaguard rejects $26 million bailout amid collapse fears
Retailers and banks are preparing contingency measures in case Armaguard collapses after the money transporter rejected a $26 million bailout from the nation's biggest cash users.
With banking licence in hand, Avenue Bank promises paper-free bank guarantees to SMEs
Finance sector upstart Avenue Bank has been granted a full operational licence, allowing the venture to reveal its core product: a streamlined bank guarantee system, promising small and medium enterprises a better service than the Big Four currently provide.
MYOB turns to Stripe to bill its customers, claiming cashflow benefits for SME users
Australian businesses using MYOB will soon make payments through the Stripe system, a move that will help its users focus on what actually matters: serving their customers and easing cash-flow constraints.
