Central Banking

Australian payments systems board debates multi-network cards

Barclaycard PayTag iPhone press image

The payment systems board of the Reserve Bank of Australia today (August 17) met to discuss public policy issues relating to multi-network debit cards. These are cards issued by banks and other financial institutions for ATM usage and with debit functionality from more than one payments network.

The Australian policy-makers have previously supported the long-standing practice of issuing such cards in Australia "because they are convenient for cardholders and allow stronger competition between

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