Central Banking

Reserve Bank of Australia Media Release

MEDIA RELEASE - Reform of credit card schemes in Australia, 27 August.

Following a decision by the Payments System Board, the Reserve Bank of Australia has today released its final reforms to credit card schemes in Australia. These reforms have been developed over a three-year period during which there has been extensive consultation with a wide range of interested parties.

The reform measures involve:

the adoption of an objective, transparent and cost-based benchmark which will be used as a bas