Central Banking

RBA paves way for new entrants in card systems

Credit Cards

The Reserve Bank of Australia (RBA) wants to encourage new entrants into the country's credit and debit card systems by setting aside stringent access regimes and letting the system operators, MasterCard and Visa, determine which institutions can enter the market.

Earlier this year, the RBA raised concerns that the existing access regimes, which determine which institutions can issue and acquire cards, were "more restrictive than necessary" and created barriers to entry.

The central bank launche

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