Written by Dominique Lamb, CEO, NRA Adding a surcharge to card payments is a contentious business practice. Generally speaking, it needlessly annoys customers and compromises loyalty to your business. That’s why most businesses don’t surcharge. From September 1 this year, the Reserve Bank’s new surcharging rules will apply to small and medium-sized businesses. The rules […]
I know that you are all operating at a frantic pace in the days leading up to Christmas and I have been pleased to see the increase in foot traffic throughout the nation as I travel around. Since my appointment as NRA CEO in July this year, I have greatly enjoyed the opportunity to represent […]
It’s shaping up as possibly the most significant week for retail industry data, as we look for indications of the upcoming pre-Christmas period. Firstly, the Reserve Bank Board will meet tomorrow for its regular discussion of monetary policy. And while general financial industry talk is playing down the chances of a Cup Day rates cut, […]
This coming Wednesday evening September 14, the National Retail Association is eagerly anticipating one of our hallmark events for the year, with our Rewards for Excellence Gala Dinner occurring at the Sofitel Sydney. It promises to be a spectacular event, with winners to be announced in several award categories. Rewards for excellence aims to acknowledge […]
Last week saw two lots of major news for the retail sector, and overall it was a mixed bag. Tuesday’s announcement by the Reserve Bank of a cut to official interest was good news at first glance, even though it carried the underlying warning from the RBA of weakness in the economy. We know that […]
The Reserve Bank is preparing to release the next generation of Australian banknotes. This involves gradually transitioning all denominations of banknotes to new designs, with upgraded security features, an innovative tactile function to assist the vision-impaired community and reduce counterfeiting. The first of these next generation banknotes is the new $5 note, due to be […]
As a result of a review of the regulatory framework for card payments conducted last year by the Reserve Bank, the Federal Government recently announced draft legislation that will insert a ban on surcharging in excess of merchant costs into the Competition and Consumer Act (2010). The Reserve Bank recently released a Consultation Paper containing […]
Analysts were saying that the next move in interest rates would be upwards and we saw evidence of that this week – not from the Reserve Bank, but from Westpac, which announced a 0.2 per cent increase in its variable rate mortgage. It’s not the first bank to nudge its rates upwards, but it is […]