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RBA Glossary definition for credit card

credit card – A credit card is a card whose holder has been granted a revolving credit line. The card enables the holder to make purchases and/or cash advances up to a pre-arranged limit. The credit granted can be settled in full by the end of a specified period or in part, with the balance taken as extended credit. Interest may be charged on the transaction amounts from the date of each transaction or only on the extended credit where the credit granted has not been settled in full.

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Submission for the Review of Retail Payments Regulation

11 Feb 2020 DOCX 33KB
In my opinion many three-party scheme products are similar to credit card. ... For example, charge cards are like a credit card where you choose to pay the full balance by the due date, except that you don’t a choice to do otherwise.
https://www.rba.gov.au/payments-and-infrastructure/submissions/review-of-retail-payments-regulation/liron-lightwood.DOCX

Review of Retail Payments Regulation Saurav Dutta, Lien Duong, ...

11 Feb 2020 DOCX 23KB
Payment of cash;. Payment through credit card;. Use “buy-now-pay-later” (BNPL) services. ... After all, merchants can levy a surcharge on credit card payments, but not for more expensive BNPL transactions causing such merchants to complain about the
https://www.rba.gov.au/payments-and-infrastructure/submissions/review-of-retail-payments-regulation/curtin-university.DOCX

Summary

11 Feb 2020 DOCX 175KB
5. The 2017 interchange and credit card reforms have been effectively implemented. ... considered. [9: Issues Paper, Graph 4, page 7. See also ‘C1.3 Credit and Charge Cards – Market Shares of Card Schemes’ at www.rba.gov.au/statistics/tables].
https://www.rba.gov.au/payments-and-infrastructure/submissions/review-of-retail-payments-regulation/anz.DOCX

29 January 2020 Head of Payments Policy Department Reserve ...

11 Feb 2020 DOCX 92KB
1. Electronic payments provide tremendous value to businesses. R&CA has found that businesses that accept electronic payments (credit card, debit card, mobile wallets) give consumers choice in how they pay – ... Businesses get guaranteed payment when
https://www.rba.gov.au/payments-and-infrastructure/submissions/review-of-retail-payments-regulation/restaurant-and-catering-industry-association.DOCX

19 February 2020 Tony Richards Head of Payments Policy ...

19 Feb 2020 DOCX 95KB
Many of Cuscal’s clients are smaller card issuers, these clients suffer a disproportionate cost per cardholder to support dual-network debit cards (DNDC), due to the need to comply with ... Cuscal’s small clients rely on a reasonable level of
https://www.rba.gov.au/payments-and-infrastructure/submissions/review-of-retail-payments-regulation/cuscal.DOCX

29th January 2020 Head of Payments Policy Department Reserve ...

11 Feb 2020 DOCX 103KB
functionality should be applied to credit cards too. ... Card issuers should be required to have a mix of cards with different scheme priorities across their base.
https://www.rba.gov.au/payments-and-infrastructure/submissions/review-of-retail-payments-regulation/australasian-association-of-convenience-stores.DOCX

REVIEW OF RETAIL PAYMENTS REGULATION: ISSUES PAPER

12 Feb 2020 DOCX 55KB
In doing so, control over payments is being driven away from banks and larger payment card issuers, which drives innovation and competition. ... Are there issues that arise for the Bank’s regulatory regime for card payments or that are relevant to
https://www.rba.gov.au/payments-and-infrastructure/submissions/review-of-retail-payments-regulation/truelayer.DOCX

A non-profit, volunteer organisation, advocating to advance the interests ...

11 Feb 2020 DOC 93KB
The arrangements for consumers to cancel direct debits and recurring card payments need to be improved. ... Competition in the Cards Market. Q4: How do stakeholders assess the functioning to date of least-cost routing (LCR) of contactless debit card
https://www.rba.gov.au/payments-and-infrastructure/submissions/review-of-retail-payments-regulation/queensland-consumers-association.DOC