Original article by David Ross, David Rogers
The Australian – Page: 13 & 19 : 16-Oct-24

The Reserve Bank of Australia has confirmed that it will investigate the regulation of the payments system, in the wake of the federal government’s proposal to ban debit card surcharges by 2026. Amongst other things, the RBA has indicated that its review will examine the costs that merchants incur when they accept card payments, and whether its surcharging framework is still ‘fit for purpose’. The Australian Banking Association’s CEO Anna Bligh argues that abolishing debit card surcharges would be a "win for consumers", although some observers contend that broader reform is needed.

CORPORATES
RESERVE BANK OF AUSTRALIA, AUSTRALIAN BANKING ASSOCIATION