RBA Review of Retail Payments Regulations – Submission in response to Consultation Paper dated October 2024

This submission has been prepared by the Financial Services Committee within the Business Law Section of the Law Council of Australia (the Committee) in response to an issues paper released in October 2024 by the Reserve Bank of Australia (RBA). In this paper, entitled Merchant Card Payment Costs and Surcharging (Consultation Paper), the RBA Board has sought submissions from interested stakeholders on certain issues related to pricing of card payments.

The Committee monitors developments in the laws and regulations governing financial services and seeks to actively contribute to public consultation on changes to these laws. The Committee’s areas of interest include financial services and credit licensing and conduct regulation, consumer credit protection, banking, anti-money laundering, personal property securities and payments regulation. Members of the Committee include legal practitioners from private practice, corporates, financial institutions and banks. The Committee regularly hosts observers from key regulators, including the RBA.

Read the full submission below.

Last Updated on 09/12/2024

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