Reform of the EFTPOS and Visa Debit Systems in Australia:
Final Reforms and Regulation Impact Statement – April 2006 1. Introduction

This Regulation Impact Statement sets out the Reserve Bank's package of reforms to Australia's debit card systems. In particular it sets out:

  1. an Access Regime for the EFTPOS system;
  2. an interchange Standard for the EFTPOS system;
  3. an interchange Standard for the Visa Debit system; and
  4. a Standard requiring the removal of the ‘honour all cards' rule and the ‘no surcharge' rule in the Visa Debit system.

The document also sets out the extensive consultation undertaken by the Bank. It summarises the various arguments made during the consultation process and the Bank's reasoning in coming to its final decisions.