LCR

Least Cost Routing

CashFinTechCBDCRegulationA2AReportingNPPAP+BECSChequeLCROpinionBanksMerchant FeesFeesAnalysisRBASurchargingcredit carddebit cardInflationMobile Wallet
RegulationRegulation
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Westpac backs scheme fee cap and dissecting blended pricing
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Westpac backs scheme fee cap and dissecting blended pricing

Westpac has taken aim at the “complex” fees charged by card schemes like Visa and Mastercard, as well as controversial “blended” pricing plans imposed on many small businesses, in a comprehensive response to the Reserve Bank of Australia’s inquiry into merchant fees and surcharging.

RegulationRegulation
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High card fees for small business under attack in RBA review
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High card fees for small business under attack in RBA review

The urgent need to reduce card fees for Australian small business was a strong theme in early submissions to the Reserve Bank of Australia’s inquiry into card fees and surcharging this week.

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+1+1
It’s time! Mandate Least Cost Routing ... properly, Ombudsman
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It’s time! Mandate Least Cost Routing ... properly, Ombudsman

The Australian Small Business and Family Business Ombudsman, Bruce Billson, has called for Least Cost Routing (LCR) of debit card payments to be mandated by the Reserve Bank of Australia, comparing the current system to expensive and unnecessary toll roads.

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Is the RBA about to blend the battle for lower merchant fees with its war on inflation?
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Is the RBA about to blend the battle for lower merchant fees with its war on inflation?

“Given the RBA’s present priority on curbing retail inflation, an emerging question is whether Governor Michele Bullock will be looking to recast the battle over merchant fees as a macroeconomic concern.”