Central Banking

RBA credit card reforms: Visa/Mastercard to appeal

Visa and Mastercard said on Thursday 9 October they would appeal against last month's Federal Court ruling which upheld credit card reforms by the Reserve Bank of Australia. Visa said that the RBA regulations give competitors such as American Express and store cards an "unjustified competitive advantage".

Source: Dow Jones

Visa International said Thursday it will appeal a decision last month by the Federal Court of Australia to uphold credit card reforms by the country's central bank.

The credit

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