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Credit Cards news

Posted in Personal Finance

Westpac goes solo with digital wallet

Updated
Westpac trialling host card emulation mobile contactless payments where customers' card detail is stored in the cloud; Won't be part of TSM launch that's set for Q4 of this year

Harmoney sees $12b opportunity

P2P lender excited by opportunity given NZ banks 'have margins between borrowing and retailing that you can drive a truck through'

Fair Play on Fees cases on ice

Exception fee cases against ANZ and Kiwibank on hold pending outcome of appeal in Aussie ANZ case

Range of winners likely in govt banking tender

Strong digital flavour to long awaited govt banking tender with 'significant transition' seen if new suppliers appointed; Consortia bids possible; Cheques to go

Kiwibank welcomes levelled playing field

Removal by RBNZ of requirement for Kiwibank 'double dipping' for capital requirements, and alignment with big 4, cheered by state owned bank

What happened Wednesday

A review of things you need to know before you go home on Wednesday; soft mortgage approvals, lower Fonterra payout, strong SUV sales, big Govt bond sale

What happened Tuesday

A review of things you need to know before you go home on Tuesday; more social housing help, lower KiwiSaver fees, credit card fights for market share, higher wholesale rates

MasterCard NZ profit up 20%

MasterCard NZ posts 20% rise in annual profit, cuts incentive payments to merchants

What happened Monday

A review of things you need to know before you go home on Monday; employment confidence up, business confidence in sharp slide, consumers drive debt growth, 90 day bill rate now 3.64%

What happened Friday

A review of things you need to know before you go home on Friday; Westpac ends 'specials', raises some rates, credit stress low, trade surplus high, China trade ahead, wholesale rates up

What happened Thursday

A review of things you need to know before you go home on Thursday; record high TWI, swap rates jump, BNZ raises rates, big services focus, big council budget

What happened Wednesday

A review of things you need to know before you go home on Wednesday; new tax plan, another great NZSF result, high dollar casualty, soft mortgage market

What happened Tuesday

A review of things you need to know before you go home on Tuesday; SBS Bank trims its variable mortgage margin, NBS raises a TD rate, WLG gets it own Accord, wholesale and fx rates unchanged

What happened Monday

A review of things you need to know before you go home on Monday; rate changes, migrant boom, tourism lift, another housing accord, NZD rises

The EFTPOS conundrum

ASB keen to see EFTPOS, or at least its characteristics, retained as contactless payments and mobile banking revolution gather pace

Hisco sees 'burnt fingers' from P2P

CEO David Hisco says ANZ will monitor peer-to-peer lending but warns P2P might not be as easy as it looks

RBNZ defers property investment changes

Banks and multiple house owners have been given more time before implementation of new rules on treatment of loans to residential property investors

P2P, the Walmart, Ryan Air or Trade Me of banking?

Gareth Vaughan says P2P lending is an exciting financial services revolution, but needs to be watched closely by regulators

Two P2P licence applications lodged

The FMA says it has received 2 peer-to-peer lending licence applications to date as Packer & Murdoch eye stake in Aussie P2P lender part owned by Westpac

Finance company offers to buy-back its deposits

F&P Finance CEO says he hopes no depositors take up his company's offer to buy-back their more than $100m of deposits in major restructure at consumer lender