Central Banking

RBA makes progress with card surcharging guidelines

A woman making a credit card payment

The Reserve Bank of Australia (RBA) today (August 23) revealed that the credit and debit card industry had called for more detailed guidance to be given with regard to surcharges applied to services.

In June, the central bank announced it intended to end "excessive" charges for using credit and debit cards. As of January 1, 2013, rules will allow "reasonable" fees only. However, lack of clarity in the draft guidelines has clearly been raised as a problem by card scheme providers as the central

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