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Promoting Competition in Debit Card Market

Promoting Competition in Debit Card Market
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Retail-payments-regulation-the-bank , Payments-system-board-of-the-reserve-bank , Bank-deputy-governor-michele-bullock , Visa , Mastercard , Reserve-bank , Retail-payments-regulation , Payments-system-board ,

MIL-OSI Australia: Mastercard in court for alleged misuse of market power over card payments

MIL-OSI Australia: Mastercard in court for alleged misuse of market power over card payments
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iTWire - ACCC takes Mastercard to court for alleged misuse of market power over card payments

The Australian Competition and Consumer Commisssion (ACCC) has instituted proceedings in the Federal Court against Mastercard for allegedly engaging i...

Australia , Australian , Gina-cass-gottlieb , Mastercard , Visa , Reserve-bank , Consumer-act , Retail-payments-regulation , Australian-competition-and-consumer-commisssion-accc- , Accc , Court-proceedings , Federal-court

RBA backflips on BNPL 'no-surcharge' rules: What does it mean for SMEs?

The RBA says BNPL providers should not be able to stop retailers from passing on costs, marking a change of direction for the industry.

Australia , Philip-lowe , Jason-andrew , Reserve-bank , Retail-payments-regulation ,

Reserve Bank calls for BNPL reform

The Reserve Bank has said buy now, pay later providers should remove their no-surcharge rules, which prevent merchants from passing on the cost of their services to customers. The Reserve Bank of Au

Australia , New-zealand , Australians , Australian , Sarah-simpkins , Mastercard , Visa , Business-accelerator-program , Reserve-bank , Retail-payments-regulation , Mortgage-business , Reserve

Visa undertakes to address competition concerns over debit card payments

Date Time
Visa undertakes to address competition concerns over debit card payments
The ACCC has accepted a court-enforceable undertaking from Visa AP (Australia) Pty Ltd and Visa Worldwide Pte Limited (together, Visa) in relation to concerns that Visa may have limited competition in relation to debit card acceptance through its dealings with large merchants.
“The ACCC was concerned that Visa’s strong market position in the credit card acceptance market could be leveraged to limit competition in the debit card acceptance market by tying the offer of cheaper strategic merchant rates for credit card transactions to a commitment from the merchant to process Visa branded dual network debit card transactions via the Visa network and not through eftpos,” ACCC Chair Rod Sims said.

Australia , Australian , Rod-sims , Visa-ap-australia-pty , Visa-worldwide-pte , Visa-ap-australia-pty-ltd , Visa , Pty-ltd , Visa-worldwide-pte-limited , Pty-limited , Reserve-bank , Retail-payments-regulation

Payments System Board Update: February 2021 Meeting: Reserve Bank of Australia

Reserve Bank of Australia
At its meeting today, the Payments System Board discussed a number of issues, including:
The Bank’s Review of Retail Payments Regulation. The Board discussed some recent industry developments that are relevant to the Review, particularly relating to dual-network debit cards, least-cost routing, and scheme fees. The staff are continuing to gather information and consulting with stakeholders. It is expected that the Board will agree on draft conclusions for the Review at its May meeting, for publication soon afterwards.
Cyber risks to the Australian payments system. Members were briefed on the work being undertaken by the Bank (together with other CFR agencies) to oversee the management of cyber security risks in the financial sector. They discussed how the Bank can best support cyber resilience in the payments system in the context of the Government’s recently announced Cyber Security Strategy.

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