The competition and consumer watchdog has acted on exclusive dealing by Equifax that restricted competitor access to payroll and superannuation data for income verification.
The ACCC has accepted a court-enforceable undertaking from Equifax Australasia Workforce Solutions in which the company agreed not to enter into any new agreements that prevent competitors from accessing electronic payroll and superannuation data.
Equifax, part of a corporate group operating a major Australian credit bureau, has run a verification exchange service since 2020.
Payroll and superannuation data underpin automated income verification services used widely across lending markets, as lenders increasingly shift towards automated assessment systems.
The undertaking followed a detailed ACCC investigation into whether Equifax’s contracts amounted to unlawful exclusive dealing that had the purpose or likely effect of substantially lessening competition.
The ACCC was particularly concerned about terms in Equifax’s 2021 agreement with SuperChoice Services, described as one of the largest holders of payroll and superannuation data willing to supply data to third parties for income verification.
“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.
“Whether it’s for home loans, car loans or a new credit card, consumers across Australia apply for financing every day. Their lenders, mortgage brokers and aggregators use income verification services to check their income to facilitate their financing needs.”
“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,” Cass-Gottlieb said.
The agreement also incentivised SuperChoice’s exclusive supply of data to Equifax through 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’s investigation, Equifax stopped relying on the exclusivity and revenue-sharing provisions in its agreement with SuperChoice in May 2025.
In a statement to SuperReview, a SuperChoice spokesperson said: “SuperChoice is one of many partners of Equifax. As one of these partners, SuperChoice has fully co-operated with the Regulator and has removed the required legacy provisions from its contract with Equifax.”
“It is important to note, SuperChoice is not part of the enforcement action taken by the ACCC in relation to this matter.”
“The contract with Equifax is to provide important salary and employment verification services which allow an individual to verify their confidential personal information in a safer, more secure and more timely method, with the individuals ‘express consent’. The service also supports SuperChoice meeting its obligations as a data holder under the Privacy Laws.”
“We take our governance obligations seriously and continue to update our policies to make sure we comply with regulations in all of the regions we operate. We regularly audit relevant data verification providers to make sure they are operating at the high standard we expect of them.”
The company amended the agreement to remove these clauses in September 2025.
Equifax also informed other data holders that they are not prevented from supplying data to its competitors or any other party.
Companies accessing data for income verification must continue to comply with Australia’s privacy laws, the ACCC stated.
