Central Banking

Australia grants access to Visa Debit System

Australia's Payment System Board, which makes payment system regulation and is chaired by Ian Macfarlane, the RBA's governor, decided to impose an access regime on the Visa Debit System in Australia.

The decision, taken at a meeting last Wednesday, means that specialist credit card institutions (SCCIs) in Australia will be able to join the Visa system to provide services to merchants accepting both Visa credit and debit cards.

"The regime will override (in Australia) Visa's international rules