RBA mulls easing card rules for fintechs

RBA mulls easing card rules for fintechs

The Reserve Bank of Australia has made a preliminary update into its consultation into card surcharges, with the central bank previously saying it can save consumers $1.2bn.

RBA Considers Exemptions for Small Payment Providers in Credit Card Surcharge Review

RBA considers exemptions for small payment providers as part of its ongoing review into credit card surcharge rules and regulations. The Reserve Bank of Australia has signalled it may ease compliance requirements for smaller issuers and fintechs, acknowledging concerns that strict regulations could hinder competition and innovation. Why the RBA is Reviewing Card Payment Regulations? The Reserve Bank’s payment system board recently met to discuss…