Central Banking

Reform of card payment systems in Australia

Following a decision by the Payments System Board, the Reserve Bank of Australia on Thursday 9 September designated the EFTPOS debit card payment system in Australia as a payment system under the Payment Systems (Regulation) Act 1998.

EFTPOS and Visa Debit

The Visa Debit payment system was designated in February 2004. Designation is the first step in the possible establishment of standards and/or an access regime for a payment system.

In reaching its decision that designation is in the public in