Search: dual-network card
RBA Glossary definition for dual-network card
dual-network card – A payment card that can be used to initiate transactions, typically from the same deposit account, for two different payment processing networks. For example, a debit card (sometimes also known as an ATM card) that can be used to make a payment via either the eftpos network or one of the international scheme networks. These cards usually have an international scheme logo (Mastercard or Visa) on one side and the eftpos logo on the other.
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Trends in Payments, Clearing and Settlement Systems
15 Oct 2020
PSB Annual Report
– 2020
When paying with a card, Australians are increasingly choosing debit cards rather than credit cards. ... The decline in eftpos' market share can partly be attributed to the increasing use of contactless payments, given that the international schemes are
https://www.rba.gov.au/publications/annual-reports/psb/2020/trends-in-payments-clearing-and-settlement-systems.html
Annual Performance Statement for 2021/22
27 Oct 2022
RBA Annual Report
– October 2022
Monitor the outcomes for consumers and businesses following past reviews of the regulatory framework for card payments. ... In 2021/22, the Bank focused on:. least-cost routing (LCR) functionality, where merchants can choose to route transactions on
https://www.rba.gov.au/publications/annual-reports/rba/2022/annual-performance-statement.html
Related Literature and Scope
31 Dec 2014
RDP
2014-14
Recent innovations have included:. The transition from using the magnetic stripe on cards to using chips for the storage of card details and transmission of these details to the terminal. ... In addition, lower-value payments often no longer require PIN
https://www.rba.gov.au/publications/rdp/2014/2014-14/related-literature-scope.html
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The Effect of Least-cost Routing on Merchant Payment Costs
18 Apr 2024
Bulletin
– April 2024
The RBA supports all merchants being able to choose the card network used to process debit transactions – a functionality known as least-cost routing (LCR) – with the aim of increasing competition and reducing the cost of accepting card payments.
https://www.rba.gov.au/publications/bulletin/2024/apr/the-effect-of-least-cost-routing-on-merchant-payment-costs.html
Retail Payments Regulation and Policy Issues
20 Sep 2018
PSB Annual Report
– 2018
Around four-fifths of debit cards issued in Australia are dual-network cards, which allow a payment to be processed via either eftpos or one of the two other debit card ... determine their preferred network to route contactless transactions for
https://www.rba.gov.au/publications/annual-reports/psb/2018/retail-payments-regulation-and-policy-issues.html
Abbreviations
28 Sep 2022
PSB Annual Report
– 2022
Australian Dollar. AusPayNet. Australian Payments Network. AUSTRAC. Australian Transaction Reports and Analysis Centre. ... DNDC. Dual-network debit card. EMEAP. Executives' Meeting of East Asia-Pacific Central Banks.
https://www.rba.gov.au/publications/annual-reports/psb/2022/abbreviations.html
About the Payments System Board
27 Sep 2023
PSB Annual Report
– September 2023
About the Payments System Board | Payments System Board Annual Report – September 2023
https://www.rba.gov.au/publications/annual-reports/psb/2023/about-the-payments-system-board.html
Competition in the Payments System | Submission to the Productivity Commission Inquiry – September 2017 | Financial Sector | Submissions
6 Sep 2017
Submissions
In 2016–17, the Bank undertook a public consultation in response to concerns about possible restrictions by schemes on the use of dual-network cards in mobile wallets (RBA 2016a). ... As noted above, one element of the undertakings provided by the
https://www.rba.gov.au/publications/submissions/financial-sector/competition-in-the-financial-system/competition-in-the-payments-system.html
Governor's Foreword
20 Sep 2018
PSB Annual Report
– 2018
the debit card market and thereby holding down payment costs in the economy. ... When a dual-network debit card is presented in a contactless transaction, it is important that the merchant is able to accept the payment via the lower-cost network.
https://www.rba.gov.au/publications/annual-reports/psb/2018/governors-foreword.html
2.6 Communication and Community Engagement
19 Oct 2023
RBA Annual Report
– October 2023
Communication and Community Engagement | Reserve Bank of Australia Annual Report – October 2023
https://www.rba.gov.au/publications/annual-reports/rba/2023/communication-and-community-engagement.html