Search: dual-network card

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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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Applications for Authorisation in Relation to 3D Secure – February 2016 | Payments System | Submissions

8 May 2024 Submissions
According to data published by APCA, total losses from fraudulent debit, credit and charge card transactions on cards issued and/or acquired in Australia amounted to $465 million in 2014/15, ... for both schemes on a card issued with dual-network
https://www.rba.gov.au/publications/submissions/payments-system/applications-for-authorisation-re-3d-secure/index.html

The Cost of Card Payments for Merchants

15 Sep 2022 Bulletin – September 2022
Troy Gill, Cara Holland and Georgia Wiley
The average cost for a merchant to accept a card payment has declined over recent years.
https://www.rba.gov.au/publications/bulletin/2022/sep/the-cost-of-card-payments-for-merchants.html

The Cost of Card Payments for Merchants

19 Mar 2020 Bulletin – March 2020
Kateryna Occhiutto
Data on merchants’ costs of accepting card payments show large differences in payment costs across both merchants and card systems.
https://www.rba.gov.au/publications/bulletin/2020/mar/the-cost-of-card-payments-for-merchants.html

Applications for Authorisation in Relation to PIN@POS – Auguest 2013 | Payments System | Submissions

8 May 2024 Submissions
Graph 1. In the Australian card payment market, a significant number of debit cards on issue are ‘dual-network’ cards. ... The Bank has previously expressed its support for the issuance of dual-network cards, noting its benefits for cardholder
https://www.rba.gov.au/publications/submissions/payments-system/applications-for-authorisation-re-pin@pos-2013-08/index.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

The Effect of Least-cost Routing on Merchant Payment Costs

18 Apr 2024 Bulletin – April 2024
Boston Dobie and Benjamin Watson
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

References | Submission to the Productivity Commission Inquiry – September 2017 | Financial Sector | Submissions

6 Sep 2017 Submissions
RBA (2013), ‘Dual-network Debit Cards’, Media Release No 2013-16, 21 August. ... RBA (2016a), ‘Dual-Network Cards and Mobile Wallet Technology’, December. RBA (2016b), ‘Review of Card Payments Regulation: Conclusions Paper’, May.
https://www.rba.gov.au/publications/submissions/financial-sector/competition-in-the-financial-system/references.html

The Payments System | Supplementary Submission to the Financial System Inquiry – August 2014 | Financial Sector | Submissions

1 Aug 2014 Submissions
This is particularly relevant in the case of dual-network debit cards – that is, cards with point-of-sale debit functionality from two payment networks. ... Between April 2010 and September 2012, Woolworths chose to route all debit transactions on
https://www.rba.gov.au/publications/submissions/financial-sector/financial-system-inquiry-2014-08/payments-system.html

Developments and Innovation in the Payments System | Submission to the Financial System Inquiry – March 2014 | Financial Sector |…

1 Mar 2014 Submissions
merchants accept cards from both networks), and where consumers may hold one network's card but not necessarily both, competition tends to involve offering incentives for a consumer to hold and ... a network where interchange payments flow to the
https://www.rba.gov.au/publications/submissions/financial-sector/financial-system-inquiry-2014-03/developments-and-innovation.html

The Personal Credit Card Market in Australia: Pricing over the Past Decade

10 Mar 2012 Bulletin – March 2012
Iris Chan, Sophia Chong and Stephen Mitchell
b) Does not include spending on companion cards that may accompany these card products. ... with $18,800 without a companion card), making these slightly more competitive than the merchant-branded cards.
https://www.rba.gov.au/publications/bulletin/2012/mar/7.html