Central Banking

VISA attacks RBA credit card plan

AUSTRALIA - Reserve Bank of Australia (RBA) plans to regulate credit card interchange fees have come under attack from Visa International.The plan would also control cards issued by Mastercard International and Bankcard. Visa's executive vice-president for Australia and New Zealand, Gordon Wheaton, is against the RBA adopting a policy of inequality, which would give a competitive advantage to companies like American Express or Diners Club, or store cards such as offered by David Jones, which