Central Banking

RBA interchange fees for credit cards lowered

The Reserve Bank of Australia said on 31 October that Bankcard, MasterCard and Visa credit card schemes have introduced lower interchange fees for credit card transactions in Australia.

Source: RBA

The Bankcard, MasterCard and Visa credit card schemes have today introduced lower interchange fees for credit card transactions in Australia. The new fees have been set having regard to the Reserve Bank's Standard on interchange fees that came into effect on 1 July 2003. Under the Standard, the weigh

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