Renamed comparison site Finty dodges credit card crunch
Credit card comparison service Credit Card Compare has rebranded to Finty, saying the move is largely due to the market pressure on credit cards.
BNPL player Laybuy partners with Mastercard
Laybuy co-founder and managing director Gary Rohloff said the partnership between Laybuy and Mastercard will support its growth globally.
Could banks adopting Buy Now Pay Later mean the end of credit cards?
As Buy Now Pay Later becomes more popular, young Aussies are bidding farewell to credit cards and some of the big financial players are taking notice.
Introducing Australia’s first credit score tracking app
In an Australian-first, a credit score app has been developed to give consumers more access than ever before to their personal credit score.
Zip throws down challenge to Afterpay and ‘outdated’ credit cards amid Senate inquiry
Buy now, pay later (BNPL) service Zip has described the current credit card model as ‘outdated’ compared to BNPL products such as their own, which they argue offer a ‘fairer’ payment alternative for Australian consumers. The comments from Zip CEO and Co-Founder, Larry Diamond, came amid a call for new regulations on the BNPL industry from the company, including conducting more stringent financial checks on customers and providing greater product transparency. “When correctly regulated, BNPL products offer a powerful tool for consumers to take control of their finances,” said Mr Diamond. “Compared to the outdated credit card model, these products provide a better, fairer alternative with simpler product constructs, interest-free […]
Open banking will drive better customer deals and responsible lending outcomes for mortgages and credit cards
The first phase of Australia’s open banking regime should be designed to assist Australians get a better deal on mortgages and credit cards.
Bitcoin: Westpac, NAB and ANZ hold off on CBA-style credit card ban
ANZ, Westpac and NAB have confirmed they do not currently plan to emulate the Commonwealth Bank’s ban on the use of its credit cards to purchase Bitcoin and similar cryptocurrencies. “Due to the unregulated and highly volatile nature of virtual currencies, customers will no longer be able to use their CommBank credit cards to buy virtual currencies,” CBA announced earlier this week. Bitcoin’s value has swung wildly in recent months, dropping from US$19,000 in late 2017 to close to $6000 earlier this month. Coinmarketcap currently pegs it at just over $10,000. CBA said that customers could still purchase Bitcoin as well as other digital currencies by using their debit cards […]
CBA blocks credit card purchases of Bitcoin, other digital currencies
Commonwealth Bank customers will no longer be allowed to use their credit cards to purchase Bitcoin and similar digital currencies. The bank announced the new policy today. “Due to the unregulated and highly volatile nature of virtual currencies, customers will no longer be able to use their CommBank credit cards to buy virtual currencies,” the bank said. CBA customers will still be able to purchase and sell Bitcoin and its ilk through their transaction accounts and debit cards. “We have made this decision because we believe virtual currencies do not meet minimum standard of regulation, reliability, and reputation when compared to currencies that we offer to our customers,” the bank […]
