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Banking Day

Lower tax expenses and a dramatic surge in interest-related revenue helped payments services provider Indue Limited to a slightly improved bottom line performance last year. ....

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Cashless debit card fast-tracks economic apartheid


It failed, but the trial was extended at the end of last year to Ceduna in South Australia, the East Kimberly region and Goldfields in Western Australia and Bundaberg and Hervey Bay in Queensland.  The whole of the Northern Territory and in Cape York are also slated to be placed on cashless welfare payments.
The CDC program forces welfare recipients, including disability and aged pensioners, to accept compulsory income management, administered by the private financial services corporation Indue Limited.
It means that 80% of the Centrelink payment is “quarantined”.
Rent, utilities and other direct debits are paid by Indue which, in turn, is being paid up to $10,000 per client by the federal govenrment to administer the scheme. ....

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Australia's national debit operator eftpos joins Hedera Governing Council and will run Aussie Hedera network node


Australia s national debit operator eftpos joins Hedera Governing Council and will run Aussie Hedera network node
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SYDNEY, Australia and DALLAS, Jan. 27, 2021 /PRNewswire/  Australian payments company
, eftpos, which operates Australia s national debit card processing infrastructure and mobile payments app Beem It, today announced it has joined the Hedera Governing Council and will run the country s first Hedera network node this year.
Designed to be the most decentralized governance model for a public ledger, the Hedera Governing Council includes a group of highly diversified enterprises and organizations overseeing a global network of nodes that aims, among other things, to enable low cost micropayments for a range of use cases such as the Internet of Things (IOT) and access to content streamed over the internet. ....

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