Central Banking

MasterCard battles RBA over fees

Mastercard has begun legal action against the Reserve bank of Australia regarding the level of the company's interchange fees. The RBA wants to bring MasterCard's interchange fee of 58 cents per $100 transaction in line with Visa's 53 cents.

Source: Australian Financial Review

Card association MasterCard International has initiated legal action against the Reserve Bank of Australia (RBA) regarding the level of the company's interchange fees. MasterCard opposes the central bank's method of calcu

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