The Reserve Bank of Australia Proposes Major Reforms to Card Payment System
The key points regarding this media release: The Reserve Bank of Australia (RBA) has released a Consultation Paper proposing key changes to reduce merchant card payment costs: Ban on card surcharges for eftpos, Mastercard, and Visa, simplifying payments and saving consumers from $1.2 billion in surcharges annually. Lower interchange fee caps, potentially saving businesses around…
