Visa warns Reserve Bank over tap-and-go regulation

Card giant Visa has cautioned Australian regulators against rules mandating how retailers process tap-and-go payments, questioning small businesses that claim processing credit payments costs more than debit.

by Shared by The Age | 3 Mar, 2020

The Reserve Bank of Australia’s payments board is currently considering the issue of “least-cost routing”, which allows retailers processing tap-and-go payments to elect to direct these through debit channels rather than credit, where higher fees may apply.