Australia's retail-payments systems face central bank review

( October 15, 2024, 05:19 GMT | Official Statement) -- MLex Summary: Australia’s central bank has launched a review into the country's retail-payment systems, seeking feedback on the current regulatory framework. In a statement accompanying the release of an issues paper, the Reserve Bank of Australia said that it will review if the regulatory settings could be adjusted to put further downward pressure on merchant-card payment costs as concerns have been raised around merchants surcharging the consumers. The statement added that merchants would be less likely to surcharge consumers if card-payment costs were lower. The review will focus on analyzing whether the central bank’s surcharging framework continues to deliver desired outcomes.The full statement by the Reserve Bank of Australia follows; the issues paper is attached:...

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Australia's retail-payments systems face central bank review

Prepare for tomorrow’s regulatory change, today

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