February
CBA, NAB grapple with the rise and rise of mortgage brokers
CBA’s Bankwest and NAB’s Ubank digital brands have been revamped, to make them more attractive to brokers who are now writing three in four home loans.
November 2024
CBA’s Comyn boils over at Apple free-riding on banks
The CBA boss said the government should consider hitting tech companies with a bank-style levy to even the competitive playing field.
Inside a decade-long rollercoaster ride with Afterpay’s Nick Molnar
Ten years ago this week, the buy now, pay later firm’s founder sold some jewellery to his business partner Anthony Eisen in a novel way: pay-in-four.
September 2024
Open banking limps to life with ANZ customers seeking full picture
ANZ is the first major bank to use open banking to aggregate multiple accounts through its app. Ultimately, it will be used as a tool to lure new customers.
Apple, Google respond to payment cost heat by backing eftpos
The US tech giants will enable “least-cost routing” for new cards on their smartphones to try to help merchants save costs by avoiding Visa and Mastercard.
Bitcoin is going mainstream. Can Australia join the party?
Twenty-thousand crypto believers descended on Singapore this week – and the companies they represented may surprise you.
August 2024
Zip nails comeback, predicts huge US transaction growth
Zip shares took a breather after a strong run driven by its pivot to profitability.
‘Badly executed’: Labor unveils plans to simplify consumer data right
A raft of enhancements to the open banking and energy sector data-sharing regime will be unveiled on Friday to boost adoption.
Nick Molnar to step up at Block, will report to Jack Dorsey
On the three-year anniversary of Afterpay’s blockbuster sale to Block, its founder Jack Dorsey has promoted Nick Molnar to head of sales.
July 2024
Revolut’s ambition adds to major banks’ headache
“If we do a good job, we can attract more customers from traditional banks,” says the global CFO of Revolut, which has more than 600,000 users in Australia.
June 2024
RBA flags BNPL fee crackdown in broader probe into credit cards
The central bank’s head of payments says it will launch a review of regulations as soon as it is handed the power to do so under new legislation in parliament.
NAB kills its stablecoin, bankers decamp to form Ubiquity
The bank canned its digital Australian dollar, known as the AUDN, so Rob Waugh and Drew Bradford left to set up their own product, to be called Ubiquity.
Boost for Afterpay as Block drops plans for Cash App in Australia
Afterpay Plus will make buy now, pay later more ubiquitous, says Nick Molnar, in his first public comments on the growth strategy in Australia post-acquisition.
May 2024
Buy now, pay later surges as Dorsey realises Cash App vision
Block’s BNPL volumes are rising as Afterpay is rolled into Cash App, which has 24 million active users in the US. The stock jumped more than 10pc on Friday.
Airwallex’s local outpost reverses to loss
The local outpost of one of Australia’s largest technology start-ups tripped to a deep loss after a big increase in costs.
March 2024
Westpac and NAB back CBA, call for more scrutiny of Apple in payments
Authorities in the US allege the tech giant has locked the iPhone to build a monopoly. In Australia, banks say its digital wallet prevents competition.
When it comes to how we pay, Apple is coming for the big banks
Commonwealth Bank boss Matt Comyn says policymakers need to be alert to the dangers of ceding important industries to global tech platforms without scrutiny.
Buy now, pay later is pulling off the improbable – a comeback
Block and Zip valuations are rising as peak interest rates pass. Klarna is considering listing in the United States. Is the sector’s winter finally over?
February 2024
Nick Molnar backs Block’s bid to reshape US banking
The billionaire Afterpay co-founder Nick Molnar tells AFR Weekend he’s been working with Jack Dorsey on Cash App, and they’re ready to tackle US banks.
A bank in your pocket: Macquarie and CBA vie for app supremacy
Until now, the only reason to switch banks was to get a better deal. The rivals are changing that with digital investment on a scale the industry has never seen.