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RBA Glossary definition for debit card

debit card – A debit card is a card that enables the holder to access funds in a deposit account at an authorised deposit-taking institution.

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Submission for the Review of Retail Payments Regulation

11 Feb 2020 DOCX 33KB
Some or all debit card payments should not be surcharged if debit cards have replaced cash as the payment method of choice. ... Furthermore, if debit cards become the payment method of choice, it could be argued that merchants shouldn’t surcharge debit
https://www.rba.gov.au/payments-and-infrastructure/submissions/review-of-retail-payments-regulation/liron-lightwood.DOCX

Summary

11 Feb 2020 DOCX 175KB
Q4: How do stakeholders assess the functioning to date of least-cost routing (LCR) of contactless debit card payments? ... The market is changing as routing options for debit card payments have become available.
https://www.rba.gov.au/payments-and-infrastructure/submissions/review-of-retail-payments-regulation/anz.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 ... Yes, developments in technology will change the need for
https://www.rba.gov.au/payments-and-infrastructure/submissions/review-of-retail-payments-regulation/cuscal.DOCX

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

11 Feb 2020 DOC 93KB
Competition in the Cards Market. Q4: How do stakeholders assess the functioning to date of least-cost routing (LCR) of contactless debit card payments? ... Do additional steps need to be taken regarding LCR to enhance competition and efficiency in the
https://www.rba.gov.au/payments-and-infrastructure/submissions/review-of-retail-payments-regulation/queensland-consumers-association.DOC

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

11 Feb 2020 DOCX 103KB
The introduction of least cost routing for debit cards has delivered significant benefits in terms of competition, and therefore cost savings to merchants and their customers, and we therefore believe this ... other scheme from dual network debit cards.
https://www.rba.gov.au/payments-and-infrastructure/submissions/review-of-retail-payments-regulation/australasian-association-of-convenience-stores.DOCX

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

11 Feb 2020 DOCX 92KB
An overwhelming number of businesses indicated that card payment – either credit or debit card) – was the most common payment method (92.3 per cent of respondents). ... 1. Electronic payments provide tremendous value to businesses. R&CA has found
https://www.rba.gov.au/payments-and-infrastructure/submissions/review-of-retail-payments-regulation/restaurant-and-catering-industry-association.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

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