ABA WELCOMES REVIEW OF PAYMENTS SYSTEM REFORMS 

Sydney, 30 May, 2007: The Australian Bankers' Association welcomes yesterday's release of the Reserve Bank of Australia’s (RBA) consultation document regarding the 2007/08 review of payments systems reforms.

The ABA has been calling for a review for several years.

The ABA supports the comprehensive nature of the review. It covers all reforms undertaken to wholesale interchange pricing, access arrangements and rules around merchant surcharging.

Some media reporting today erroneously indicates that the review extends to retail pricing. This is not the case.

Submissions are due by 31 August 2007. The ABA will consult with its member banks in developing the industry’s submission.


For further information:

Heather Wellard
Director, Public Relations
Phone: 02 8298 0411
Mobile: 0409 830 439

ENDS