Westpac might be on a collision course with the Reserve Bank over its decision to introduce a flat rate charge of 1.4 per cent on merchants using their mobile phone as a payment terminal.
A submission to a Senate inquiry published this week points to CBA’s growing frustration that the government has not responded by giving the RBA new powers.
NAB has missed the Reserve Bank’s deadline for offering the PayTo service to its customers and only 53 organisations are live with the service almost a year after it was launched.
PayTo is a crucial part of the central bank-backed real-time system that will serve as an alternative to using more expensive North American card networks.