This Month
Guess who’s unhappy about the surcharge ban? Cafes and retailers
Small business says it will be the “piggy in the middle” as banks and credit card providers won’t lower fees enough to cover the loss of revenue.
May
Race to real-time payments: big business ditches legacy systems
Two-thirds of big businesses say real-time payments will affect their market position. A new survey shows who’s moving now, and who risks getting left behind.
December 2024
Debit surcharge ban unfairly favours major banks, claims Square
The Block subsidiary introduced “blended” card payment fees which include using its software. They have become a flashpoint in the RBA’s payment cost review.
October 2024
Businesses pass on higher fees to customers for Qantas points
Consumers are being hit with far higher debit and credit card surcharges than needed, while small businesses rack up frequent flyer points.
January 2023
Citi claims supply chain finance ‘more important than ever’
Almost two years after Greensill Capital collapsed, Citigroup is pitching supply chain finance schemes as a tool for tackling rising inflation and interest rates.
October 2022
RBA restores payment system after major outage
A failure after a software update involving its virtual servers had frozen money transfers worth almost a billion dollars at big banks across the country.
September 2022
Inside the rise and spectacular fall of Lex Greensill
A new book about the business exploits of the boy from Bundaberg is flying off the shelves in his home town as court battles continue over Greensill Capital’s implosion.
July 2022
US leads on forcing companies to disclose supply chain finance
Regulators around the world have been considering whether to require companies to explain whether they are using supply chain finance to manage cash flows.
March 2022
IAG diligence in spotlight in Greensill healthcare case
Just nine months before a Middle East healthcare outfit was accused of fraud, IAG’s half-owned agency signed up to insure its bills.
November 2021
Visy, Cleanaway, Coles liquor exposed as late bill payers
The Commonwealth’s Payment Times Reports Register became public on Tuesday, allowing small businesses to find out about payment practices before signing contracts.
October 2021
Cimic pays up on Greensill Capital debts
CIMIC, Australia’s biggest construction group, said it had fully repaid all money owed on supply chain finance schemes as it delivered a 36 per cent drop in nine-month net profits.
September 2021
Australian policymakers demand answers from Lex Greensill
The Greensill Capital founder has been sent a list of questions from a parliamentary committee over the collapse of his supply chain finance firm.
August 2021
Taulia makes fresh pitch to Australian businesses
Fintech group Taulia, which used to partner with Greensill Capital to provide supply chain finance schemes, is making a new marketing push in Australia.
Auditors ‘too busy’ to discuss supply chain finance
Few are willing to publicly discuss supply chain finance and the collapse of Greensill Capital as a parliamentary committee weighs the need for a full inquiry.
July 2021
Greensill Capital ‘flew too close to the sun’
Preliminary parliamentary hearings into supply chain finance heard that some of Greensill Capital’s lending schemes were “risky”.
Greensill Capital schemes likened to ‘financing vapour’
Liberal National MP Andrew Wallace says there is a ‘concerning reluctance’ among people to appear at this week’s parliamentary hearings on supply chain finance.
Greensill Capital parent was possibly insolvent on March 2
Greensill Capital’s Australian parent probably became insolvent on or around March 2, a week before it filed for administration, liquidators Grant Thornton believe.
CIMIC ‘bouncing back’ from 2020, says CEO
Construction group does not believe the current two-week halt on work in NSW will have a serious financial impact but will worry if the shutdowns are extended.
Sanjeev Gupta confirms financing of ‘prospective’ invoices
GFG Alliance boss Sanjeev Gupta has told a UK inquiry that his financing arrangements with Greensill Capital included some based on invoices expected to be generated in the future.
Lex Greensill avoids UK appearance but pressed for answers
Greensill Capital’s Lex Greensill is under pressure to provide details of supply chain finance contracts with GFG Alliance businesses and to answer other questions.