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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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The ATM System since the 2009 Reforms
17 Mar 2016
Bulletin
– March 2016
The past seven years have seen two major forces affecting the ATM system. Reforms to pricing arrangements in 2009 have had a number of effects, including establishing an environment that has encouraged a rise in ATM numbers. More recently, the ATM
https://www.rba.gov.au/publications/bulletin/2016/mar/4.html
Recent Developments in the ATM Industry
7 Dec 2017
Bulletin
– December 2017
The ATM industry in Australia is undergoing a number of changes. Use of ATMs has been declining as people use cash less often for their transactions, though the number of ATMs remains at a high level. The total amount spent on ATM fees has fallen,
https://www.rba.gov.au/publications/bulletin/2017/dec/6.html
The Cost of Card Payments for Merchants
19 Mar 2020
Bulletin
– March 2020
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
Reform of the ATM System – One Year On
10 Jun 2010
Bulletin
– June 2010
Prior to the reforms, the cardholder's financial institution paid a fee (known as an interchange fee) to the ATM owner. ... interchange fees, the cost to an institution of its cardholders making foreign transactions would be little different from
https://www.rba.gov.au/publications/bulletin/2010/jun/6.html
Abstract for A Guide to the Card Payments System Reforms
10 Sep 2010
Bulletin
– September 2010
From 2003, therefore, the Bank progressively introduced reforms to address this issue: ‘interchange fees’ were reduced; merchants were permitted to reflect the cost of different payment instruments in their prices to ... The reforms also strengthened
https://www.rba.gov.au/publications/bulletin/2010/sep/bu-0910-7a.html
Innovation and Governance of Payment Systems
10 Oct 2005
Bulletin
– October 2005
A second element of the reform process has addressed interchange fees – the fees paid between a cardholder's bank and a merchant's bank whenever a credit or debit card is ... By requiring that interchange fees be reduced in the Bankcard, MasterCard and
https://www.rba.gov.au/publications/bulletin/2005/oct/6.html
Developments in the Buy Now, Pay Later Market
18 Mar 2021
Bulletin
– March 2021
The buy now, pay later (BNPL) sector is growing rapidly and new providers and business models are emerging.
https://www.rba.gov.au/publications/bulletin/2021/mar/developments-in-the-buy-now-pay-later-market.html
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
Cheques and the Payments System
10 Oct 1996
Bulletin
– October 1996
It seems inevitable that over time both the fees charged for the use of cheques and the costs incurred by banks in providing them will adjust to a position where ... Financial Electronic Data Interchange services – which combine payment instructions
https://www.rba.gov.au/publications/bulletin/1996/oct/2.html
Bank Fees in Australia
25 Jan 2024
Bulletin
– January 2024
This article updates Reserve Bank research on bank fees charged to Australian households, businesses and government.
https://www.rba.gov.au/publications/bulletin/2024/jan/bank-fees-in-australia.html