BankingBusinessFinTech

Westpac: Helps businesses save on “tap and go” contactless merchant transactions

  • Westpac Group has announced it will proactively contact merchant customers to activate Merchant Choice Routing (MCR) also called least cost routing
  • Westpac’s decision will help merchant customers with Westpac owned terminals activate pricing that’s best for them
  • MCR has been available since April 2019 as an opt-in for merchants operating on Westpac owned terminals
  • Over the coming months Westpac will reach out to our customers who we believe would benefit from MCR
  • Westpac is doing the right thing by Australian small businesses in this economic crisis in delivering least cost routing
  • The impact of the pandemic on small business earnings and the potential for MCR to provide cost savings for merchants
Previous article
Artemest: Raises $5M+ in Equity Funding Round
Next article
TradingScreen Inc.: Enters the cryptocurrency space with MARKTS
Laura M
Laura M
Laura is a financial reporter, editor, and researcher with a particular interest in fintech innovation, capital markets, and the evolving global banking landscape.

You May Also Like

FinTech

Venmo Strengthens Global Transfers by Allowing Payments to PayPal Accounts

Venmo users can now send money internationally to PayPal accounts.Highlights: Venmo now allows users to send money to...
FinTech

Talos and Nasdaq Strengthen On-Chain and Off-Chain Collateral Workflow

New partnership enhances digital asset handling and collateral management.Highlights: Talos and Nasdaq collaborate to streamline collateral workflows.Partnership aims...
FinTech

FCA Restricts Use of Sensitive Data in AI Trial with Palantir

Regulatory concerns arise over data handling protocols in AI trials.Highlights: FCA criticized for using sensitive data in AI...
FinTech

Bank of Ireland Strengthens AI Readiness for Staff Training

New initiatives prepare employees for an AI-driven banking landscape.Highlights: Bank of Ireland launches AI training initiatives for staff.Employees...