Central Banking

MasterCard follows Visa in RBA court challenge

AUSTRALIA - Like Visa, MasterCard revealed on Friday that it will appeal the Reserve Bank of Australia's proposed changes to the credit card system.

MasterCard International said that it had lodged an application with the Federal Court of Australia seeking a judicial review of credit card regulations.

The company's senior vice-president and general manager for Australasia, Leigh Clapham, said MasterCard contended that the RBA had not complied with its legislative obligations and the changes pr