Open letter from business organisations seeking urgent action on debit payments Source: Pexels/Karolina Grabowska. Ten industry associations representing Australian SMEs have come together to pen this open letter to the federal government, demanding urgent action be taken to avoid higher transaction costs for Australian retailers. The letter is in response to the Reserve Bank of Australia (RBA) examining whether medium and smaller banks should be able to issue debits cards with one payment scheme on them, instead of two, such as Visa and eftpos. Australia’s debit payments system is at a critical juncture, and we need urgent action so hundreds of thousands of businesses do not face the cost burden of higher transaction fees in-store and online.