Economy

Banks to have their say on eBay changes

SmartCompany /

The Australian Bankers’ Association has been invited by the Australian Competition and Consumer Commission to make a formal submission to the ACCC’s inquiry into the impact of eBay’s decision to force customers to use its wholly-owned subsidiary, PayPal.

A spokesman for the ABA could not comment on the contents of its submission, but will consult with members – who include the big four banks – on the issue in the coming weeks.

eBay has sought immunity from prosecution under the Trade Practices Act and is seeking a determination on this from the ACCC.

But the big banks would no doubt be concerned about a loss of income from eBay transactions, as payments via bank deposits and debit and credit card would no longer be allowed.

The ACCC has already received about 30 submissions from eBay users, who are largely opposed to the plan.

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