Posts by theo@aacs.org.au

Alimentation Couche-Tard Inc., the parent of the Circle K convenience-store chain, has raised its offer to acquire Seven & i Holdings Co. Ltd., the parent of the 7-Eleven and Speedway c-store chains, from $14.86 per share or approximately $39 billion, to $18.19 per share or approximately $47.2 billion, about 21%, according to a Bloomberg report. In a “notice regarding media reports” dated Oct. 9, Seven & i President Ryuichi Isaka confirmed the offer, saying that the company has “received a revised confidential, private and non-binding proposal from Alimentation Couche-Tard Inc. As requested by ACT, the company has maintained, and intends to continue to maintain, the confidentiality of its current discussions with ACT at this time. The company will continue to act in the best interest of its shareholders and other stakeholders of the company.” Couche-Tard on Aug. 19 submitted a “friendly,” nonbinding proposal to Seven & i, parent of the 7-Eleven and Speedway c-store…

Commentary by George Lekakis, Senior Banking and Financial Services Correspondent “Given the RBA’s present priority on curbing retail inflation, an emerging question is whether Governor Michele Bullock will be looking to recast the battle over merchant fees as a macroeconomic concern.” Australia’s major banks are prone to boasting about how their investments in new service channels have contributed to a more productive banking system and associated service improvements for business customers. In the payments market, the banks point to their roll outs of digital innovations such as contactless debit and digital wallets as evidence of efficiency gains and service enhancements. However, a case can be advanced that the pricing strategies of the banks in the payments market have actually undermined efficiency in the Australian economy by helping to magnify one of its biggest recent challenges – inflation. While it is true that bank-led innovations widened payment choices for retailers and…

Uncontrolled debit fees adding $12 to a school laptop, and $6.40 for a car service Canberra, 10 October 2024: A list of initiatives to reduce the cost of living were presented to the Government in Canberra today, aiming to slash the price of items purchased on billions of debit card payments at Aussie businesses, and significantly reduce surcharging. Independent Payments Forum (IPF) members joined co-founders Brad Kelly and Warwick Ponder to present the plan to Assistant Treasury, the Hon Stephen Jones, Small Business Minister, the Hon Julie Collins and fee campaigner Mr Jerome Laxale MP. IPF also met with Opposition shadow ministers and their advisers. The 10-point plan presented by the forum would significantly increase accountability and reduce the cost of debit card payments, which are by far the preferred retail payment method in Australia, accounting for 79% of card purchases, or almost 12 billion transactions a year. “Cost of…

The company’s new app is a key part of reaching more customers and improving their bp experience. Even as bp quickly grows its convenience business across the US, it’s remaining customer-obsessed by testing seamless digital products to meet their needs. One of those products is bp’s earnify™ app, which enhances, expands and replaces the BPme Rewards program. But it’s more than just an update, it’s a critical component of the business’s long-term vision. The new app is currently being rolled out, reaching more than 7,000 bp, Amoco and TravelCenters of America locations so far. Here’s how earnify™ works  earnify™ is an app that aims to allow customers to use their digital device to interact with all of bp’s products and services in one place. Much of the US now communicates digitally – think how often you use your smartphone or tablet each day – and bp is leveraging that through earnify™…

Shop with Purpose: New Sunrise and Sunrise Local Stores Launch its Biggest ever advertising campaign to Support Heart of the Nation. This October, New Sunrise and Sunrise Local Stores are launching their annual Shocktober campaign in support of Heart of the Nation, a life-saving initiative dedicated to raising awareness about sudden cardiac arrest and the importance early access and visibility of AEDs (Automated External Defibrillators). Now in its fourth year, this campaign not only continues New Sunrise and Sunrise Local Stores’ ongoing support for Heart of the Nation, but also amplifies the life-saving message of ‘Call, Push, Shock’—the three critical steps everyone should know when responding to a cardiac emergency. 10c per Product will be Donated to Heart of The Nation Throughout October, 10 cents from every participating product purchased across the New Sunrise and Sunrise Local Stores network will be donated to Heart of the Nation, with a goal…