Submissions on Review of Card Surcharging

In its Media Release of 8 June 2011, the Reserve Bank noted the Payments System Board's concern that in recent years some surcharging practices, including surcharging well in excess of card acceptance costs, may have reduced the effectiveness of previous surcharging reforms. The Board believes that, while the reforms have improved the efficiency of the payments system, including by improving price signals to cardholders, there may be a case for varying the Standards to allow schemes to place some limits on the level of surcharging. Accordingly, it sought the views of interested parties on both the case for doing so and the most suitable approach.

In addition to the submissions listed below, the Reserve Bank has received a number of other submissions that primarily focus on providing details on surcharging practices of particular merchants. These submissions will not be published but will be considered alongside all other submissions received.

Received by 20 July 2011

Received after 20 July 2011

Confidential Information

The following organisations provided submissions containing commercial-in-confidence information:

  • American Express Australia Limited
  • GE Capital Finance Australasia Pty Ltd