Global payments giants Visa and Mastercard are pushing back against the Reserve Bank’s attempt to force them to reveal to Australian businesses the fees they charge banks to process transactions on their privately owned networks.
The central bank’s review of card payment costs is a source of tension within the card schemes, which are resisting the potential for regulation of their fees.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.