The ACCC is watching the investment activities of the country's largest banks, while ASIC and financial complaints agency AFCA are trying to monitor the scene to determine any consumer detriment.
Latest from Asha Barbaschow
Commonwealth Bank wants access to Apple's NFC tech to open up competition in Australia. It has told the committee looking into it that Apple uses its market position when it comes to negotiating Apple Pay contracts.
Until such time regulation is introduced, the sector body wants safe harbour protections for crypto asset providers.
Payments company says it is bringing large-scale payments competition to the online retailer sector later this year, with additional security features and a five-year, AU$100 million investment to make it happen.
The company's new money and lifestyle app, Money by Afterpay, is pencilled in for a public go-live in October.
The company is gearing up to go live with its QR payments system in August, shutting down concerns it won't be able to compete in a 'tap and go' dominated society.
The ACCC is seeking views on a court enforceable undertaking which has been offered by three Australian payment services providers seeking to merge.
Watchdog chair does not consider the merger of Eftpos, BPay, and NPPA to be something that will substantially lessen competition in any payments market and has accepted a court-enforceable undertaking put forward by the parties.
Cryptocurrency exchange Bitcoin Babe testified it has been debanked 91 times and bullied by Austrac, with the industry body calling for an end to such 'anti-competitive' behaviour from Australia's banks.
The iPhone maker said there's plenty of competition where mobile payments are concerned and that Apple Pay is an example of the 'dynamic competition and innovation that characterises the payments market' in Australia.