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RBA Glossary definition for interchange fee
interchange fee – A fee paid between card issuers and acquirers when cardholders make transactions.
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Developments in the Retail Payments System
2 Oct 2009
PSB Annual Report
– 2009
Interchange fees in the MasterCard and Visa systems in Australia are regulated by the Reserve Bank. ... Interchange fees in the EFTPOS system are also regulated by the Reserve Bank.
https://www.rba.gov.au/publications/annual-reports/psb/2009/dev-payments.html
Retail Payments Regulation and Policy Issues
21 Oct 2021
PSB Annual Report
– 2021
Even so, the schemes made a number of voluntary changes to their credit interchange fee schedules during the year, primarily to raise fees on some premium card categories. ... This requirement is intended to limit the possibility of schemes using
https://www.rba.gov.au/publications/annual-reports/psb/2021/retail-payments-regulation-and-policy-issues.html
Developments in the Payments System
11 Sep 2008
PSB Annual Report
– 2008
Actual interchange fees are negotiated bilaterally between participants. Previous liaison has suggested that the interchange fee for transactions involving a cash-out component has in some cases fallen in line with ... Nonetheless, increased competition
https://www.rba.gov.au/publications/annual-reports/psb/2008/dev-payments.html
Developments in Retail Payments Systems
10 Sep 2012
PSB Annual Report
– 2012
contactless or chip; Table 6). Reflecting this, the number of interchange fee categories, and the variability in the level of fees between categories, has grown steadily in the years since the ... The margin between the average merchant service fee and
https://www.rba.gov.au/publications/annual-reports/psb/2012/dev-ret-pay-sys.html
Retail Payments Regulation and Policy Issues
17 Oct 2019
PSB Annual Report
– 2019
Based on current information, these may include the level of the interchange fee benchmarks and caps, the transparency of scheme and processing fees, competition in the debit card market, the competitive ... In 2018/19, Mastercard and Visa were required
https://www.rba.gov.au/publications/annual-reports/psb/2019/retail-payments-regulation-and-policy-issues.html
Developments in Retail Payment Systems
8 Sep 2011
PSB Annual Report
– 2011
Purchases below $15 without cash-out, charity payments and Medicare Easyclaim: no interchange fee is paid. ... Current bilateral interchange fees on cash-outs are around 20 cents, also paid to the acquirer.
https://www.rba.gov.au/publications/annual-reports/psb/2011/dev-payments.html
The Board's First Year
1 Oct 1999
PSB Annual Report
– 1999
The merchants pay merchant service fees to their acquirers at least equal to the interchange fee. ... in 1997, the ACCC asked APCA to require its members to implement ‘efficient pricing principles’ in setting interchange fees for EFTPOS and ATM
https://www.rba.gov.au/publications/annual-reports/psb/1999/first-year.html
Retail Payments Policy and Developments
24 Oct 2016
PSB Annual Report
– 2016
The first were efficiency issues related to interchange fees and the transparency of card payments. ... In particular, the review considered: whether interchange fee caps were inefficiently high; the implications of the widening of the range of
https://www.rba.gov.au/publications/annual-reports/psb/2016/retail-payments-policy-and-developments.html
Retail Payments Regulation and Policy Issues
20 Sep 2018
PSB Annual Report
– 2018
When the standard relating to credit card interchange fees came into effect in July 2017, both Mastercard and Visa reset their credit card interchange fee schedules to comply with the new ... This requirement is intended to limit the possibility that
https://www.rba.gov.au/publications/annual-reports/psb/2018/retail-payments-regulation-and-policy-issues.html
Retail Payments Regulation and Policy Issues
15 Oct 2020
PSB Annual Report
– 2020
In the event a scheme has exceeded the benchmark, it must reset its interchange fee schedule, such that had those fees applied over the preceding four quarters, the benchmark would not ... In Europe, the European Commission recently assessed the
https://www.rba.gov.au/publications/annual-reports/psb/2020/retail-payments-regulation-and-policy-issues.html