Paying electricity bills using Centrepay

Paying electricity bills using Centrepay

AU Energy Compliance
It is essential that all businesses in the energy industry understand their obligations to customers undergoing financial hardship. We talked about upcoming regulatory change around customer hardship policies here https://www.compliancequarter.com.au/are-you-paying-lip-service-to-your-customer-hardship-obligations/. An important aspect of the National Energy Retail Rules relating to customer hardship are the processes for customer payment using the ‘Centrepay’ system. In today’s article, we explain when a business needs to provide Centrepay as an option and the requirements for applying for approval to provide Centrepay. Photo by Carlo Trolese on Unsplash By Dr Drew Donnelly, Regulatory Specialist, Compliance Quarter Centrepay and associated obligations Centrepay is a bill-paying service that is free to use for Centrelink customers. Through Centrelink, a customer can choose to authorise deduction of regular amounts from their welfare payments to pay bills to an authorised business.[1] It…
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Fintech and Regtech Developments – March, April, May 2018

Fintech and Regtech Developments – March, April, May 2018

Financial Services
We last summarised regulatory changes for financial and regulatory technology (fintech and regtech) in February.[1] Since then there have been a bunch of exciting developments including the Inaugural RegTech Association’s #ACCELERATERegTech 2018 event[2]  and the regulatory approval of a new challenger bank in Australia.[3] We summarise some of the other important developments over the last few months below. Photo by Samuel Ferrara on Unsplash By Dr Drew Donnelly, Regulatory Specialist, Compliance Quarter  Open Banking Review and the Consumer Data Right We mentioned in our February update that Treasury was consulting on the final recommendations of the Open Banking Review. The submissions that were received can be viewed at https://treasury.gov.au/consultation/c2018-t247313/. In response to both the Open Banking Review and the Productivity Commission’s Inquiry Report Data Availability and Use, the Commonwealth Government has announced that…
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