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RBA Glossary definition for direct debit

direct debit – A pre-authorised debit on the payer's bank account initiated by the recipient (payee).

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Summary

11 Feb 2020 DOCX 175KB
The market is changing as routing options for debit card payments have become available. ... 35. ANZ supports this approach and believes the development of MPS will provide the capability to address concerns surrounding the ease of cancellation or
https://www.rba.gov.au/payments-and-infrastructure/submissions/review-of-retail-payments-regulation/anz.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. ... Establishing by businesses of consumer authorisation for multiple direct debits for the same product or service should be prohibited.
https://www.rba.gov.au/payments-and-infrastructure/submissions/review-of-retail-payments-regulation/queensland-consumers-association.DOC

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

19 Feb 2020 DOCX 95KB
13. Domestic scheme consolidation: Cuscal has direct or indirect membership of APN, NPPA, BPAY and eftpos. ... Yes, developments in technology will change the need for continued issuance of dual network debit cards.
https://www.rba.gov.au/payments-and-infrastructure/submissions/review-of-retail-payments-regulation/cuscal.DOCX

Submission for the Review of Retail Payments Regulation

11 Feb 2020 DOCX 33KB
However, some Neobanks are issuing debit cards with the international scheme only, i.e. ... The debit card interchange fee standard (Payment Systems (regulation) Act 1998 Standard No.
https://www.rba.gov.au/payments-and-infrastructure/submissions/review-of-retail-payments-regulation/liron-lightwood.DOCX

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 ... The AACS believes it would be advantageous
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