iscover ACCC rebukes credit bureau for barring competitors access to super, payroll data
RegulationThe ACCC has required a credit bureau to unravel its agreement with a super clearing house, which barred competitors from accessing data useful for income verification.
The Australian Competition and Consumer Commission (ACCC) has rebuked a credit bureau after it barred a superannuation house from sharing payroll and super data with other third parties.
On Wednesday (17 December), the ACCC accepted a court-enforceable undertaking from credit bureau Equifax, where the firm agreed not to enter into any new agreements that would bar its competitors' access to electronic payroll and super data.
In particular, the ACCC was concerned about the terms of an agreement entered between Equifax and superannuation clearing house SuperChoice, which barred the latter from sharing payroll and superannuation data with third parties for income verification purposes.
“Equifax’s contract prevented SuperChoice from supplying data to other Australian suppliers of income verification services and included a clause requiring SuperChoice to phase out sharing data with one of Equifax’s competitors,” ACCC chair Gina Cass-Gottlieb said.
“Harm to competition in a crucial part of the lending process, such as income verification, can have flow on effects to consumers in terms of choice, quality and price.”
When consumers apply for a loan or credit card, banks and other lenders use income verification services to check their income. The ACCC noted that payroll and superannuation data were increasingly used to provide automated income verification services across Australia.
Many lenders were transitioning their income verification practices towards automated solutions, underscoring the importance of data sharing to allow Australians to quickly and smoothly get credit cards and loans.
The 2021 agreement between Equifax and SuperChoice had essentially prevented one of the largest holders of payroll and superannuation data from sharing it with third parties for income verification purposes, the ACCC said.
It also found that the agreement incentivised SuperChoice to exclusively supply data to Equifax under a revenue-sharing arrangement.
“We considered Equifax’s contract with one of its key suppliers to be a case of anti-competitive exclusive dealing by Equifax that needed to be stopped to protect the competitive process. In evolving markets, exclusive agreements, particularly by large established firms, can deter entry and innovation,” Cass-Gottlieb said.
“Competition in the digital economy is a key priority for the ACCC and we will continue to take enforcement action against businesses that engage in unlawful anti-competitive conduct.”
Following the ACCC investigation, Equifax amended its agreement with SuperChoice to remove the exclusivity and revenue-sharing clauses in September 2025. It also informed other data holders that they were not barred from supplying data to Equifax’s competitors.
Emma Partis
Emma Partis is a journalist at Accountants Daily and Accounting Times, the leading sources of news, insight, and educational content for professionals in the accounting sector. Previously, Emma worked as a News Intern with Bloomberg News' economics and government team in Sydney. She studied econometrics and psychology at UNSW.
