The Australian Competition and Consumer Committee (ACCC) issued a license to allow Australian banking company LTD (ABA), large banks, large retailers and supermarkets, Australia Post and other participants in the industry.
Authorization allows large banks and retailers to provide financial support to Armaguard and to discuss, agree and implement operational viability and efficiency measures to all services provided by Armaguard’s cash companies to these banks and retailers.
Authorization also allows the parties to develop, but not implement, an independent pricing mechanism for their armaguard deals.
Cash transfer services include the provision of transfer, cash management, management and processing services. These services are provided to banks, retailers and independent ATM exploitation bodies.
On June 25, 2025, ACCC granted authorization with six conditions that require widely required:
- ABA provides regular reports to the ACCC, Reserve Bank and Treasury on discussions, developments and decisions made under the authorization of the operational measures of viability and profitability and the independent pricing mechanism, including any consultation undertaken
- Before any operational viability and efficiency measures applied, ABA to provide exposure to the ACCC, RBA and Treasury that describes the measure in detail and determines the consultation carried out with other parts (smaller members ABA, COBA, IGA/METCAS
- Discussions, contracts, arrangements or perceptions of any operational viability and efficiency measure and/or independent pricing mechanism that will occur, in preparation or arise from a meeting, meetings or communications of the Weekly Cash Steerco or a meeting that includes the Bank of Reserve or Treasury Bank
- ABA to ensure that Deloitte (or any alternative independent facilitator) carries out reasonable consultations with specific parties regarding the development of the independent pricing mechanism before any impressive agreement.
Authorization on June 25, 2025, does not extend to the implementation of any pricing proposal. A further application for the authorization of the implementation of the pricing proposal is expected when an agreement is reached between funding and Armaguard in the proposal.