All posts tagged "least cost routing"
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423Australia & NZACCC Commences Legal Proceedings Against Mastercard Units
The ACCC says Mastercard offered cheaper rates to over 20 major retail businesses if they used its own network to process transactions.
May 31, 2022 -
264Australia & NZACCC Authorises Amalgamation of BPAY, eftpos, NPPA
The ACCC said the merger will enable the three payment schemes to coordinate investment proposals, avoid duplicative spending, and likely result in public benefit.
September 15, 2021 -
252Australia & NZRBA Asked to Require Banks to Provide Least-cost Routing Options
Treasurer Josh Frydenberg has asked the RBA to consider mandating the issuance of dual-network debit cards for major and medium-sized banks.
September 3, 2021 -
332Australia & NZACCC Consults on Merger of BPAY, eftpos and NPP Australia
A court enforceable undertaking is proposed to address concerns that the merger could reduce investment and support for eftpos and decrease the availability of least-cost routing.
August 10, 2021 -
449Australia & NZACCC Accepts Visa Commitment to Address Competition Concerns
Visa is legally bound to ensuring that merchants will not pay higher processing costs if they process debit card payments through eftpos rather than the Visa network.
March 12, 2021 -
1.7KAustralia & NZAPRA Grants TransferWise Licence to Directly Access NPP
Access to Australia's real-time payments system will enable TransferWise to reduce foreign exchange fees and wholesale banking costs.
December 1, 2020 -
876Australia & NZWestpac to ‘Proactively’ Switch Merchants to Least Cost Routing
The RBA has signalled it was considering taking regulatory action to force banks to move faster in moving merchants from Mastercard and Visa to lower cost networks.
August 6, 2020 -
622Australia & NZ
RBA Considers Mandating ‘Least Cost Routing’ – Reports
Forcing banks to route payments through EFTPOS rather than Visa or Mastercard could save retailers an estimated A$500mn a year.
February 7, 2020 -
861AML / KYCAustralia Records Decline in Payment Fraud Rates
AusPayNet’s latest data shows a decline in the overall rate of card fraud for 2018, alongside slower growth in online fraud.
August 9, 2019
