7 result(s) for “Payments”
A Federal Court order issued on October 11, 2026, requires Westpac to pay A$26 million after finding the bank failed to respond to hundreds of online hardship notices over several years, intensifying regulatory scrutiny of bank treatment of vulnerable customers.
The federal government has overruled the Australian Taxation Office and will fund a transition that allows credit card payments for tax liabilities until 30 June 2027, after small business pressure and political backlash.
S&P Global Ratings warns that near record federal and state spending, combined with rising interest bills, has left Australia more exposed to economic shocks, complicating the Reserve Bank of Australia’s path back to inflation targets, rating commentators and Australian outlets reported on October 8, 2026.
From October 5, PayPal will no longer allow merchants in Australia to add a separate fee for accepting PayPal, completing a policy shift that began with card networks on October 1. Businesses face immediate decisions about whether to absorb processing costs, restructure prices, or stop taking card payments altogether, with regulators watching for new fees disguised as service charges.
Treasurer Jim Chalmers told business audiences on October 4 that global shocks, rising bond yields and higher fuel costs are imposing ‘‘very substantial and intensifying’’ pressure on Australia’s budget, and he signalled a savings package to be announced in the government’s mid year economic and fiscal update.
Australian shares and business sentiment showed caution on September 28, 2026, as traders awaited a likely Reserve Bank rate hike and this week’s inflation data. Household and corporate budgets face more pressure if policy tightens again, with economists warning the RBA’s move could slow growth across interest sensitive sectors.
Rising oil and gas prices are colliding with higher borrowing costs across major economies, creating a difficult combination for households, businesses and central banks as concerns about persistent inflation and weaker growth return.