Payments System Board Annual Report – 2008 List of tables

Table 1: Number of Meetings Attended by Each Member in 2007/08

Table 2: Payment Methods – Survey Results

Table 3: Non-cash Retail Payments

Table 4: Non-cash Retail Payments in Selected Countries

Table 5: Interchange Fees

Table 6: Credit Card Rewards Programs

Table 1: Number of Meetings Attended by Each Member in 2007/08(a)
Glenn Stevens 5 (5)
Philip Lowe 5 (5)
John Laker 5 (5)
Joe Gersh 5 (5)
Robert McLean 5 (5)
John Poynton 5 (5)
Catherine Walter(b) 4 (4)
(a) Figures in brackets show the number of meetings each member was eligible to attend.
(b) Catherine Walter was appointed to the Board on 3 September 2007.
Table 2: Payment Methods – Survey Results
Per cent
Share of
number		 Share of
value
Cash 70 38
EFTPOS 11 14
MasterCard/Visa debit card 4 6
MasterCard/Visa credit card 9 17
American Express/Diners Club card 1 2
Petrol/Store card * *
Cheque 1 9
BPAY 2 9
Other(a) 1 3

* Less than 0.5 per cent.
(a) ‘Other’ payment methods include, amongst others, money orders and Cabcharge payments.

Source: Roy Morgan Research
Table 3: Non-cash Retail Payments
2007/08 Growth, 2007/08
Per cent of total Average value ($) Per cent
Number Value Number Value
Cheques   7.2 12.9   4,525   −8.3 2.6
Direct debits   10.7 35.4   8,355   10.6 14.6
Direct credits*   23.3 48.3   5,218   9.2 13.9
Debit cards   29.5 0.8   69   15.2 15.5
Credit cards*   25.2 1.4   144   6.9 11.4
BPAY   4.1 1.2   709   14.3 19.8
Total   100.0 100.0   2,522   9.1 12.6

*Adjusted to remove the double counting of BPAY transactions.

Sources: BPAY; RBA
Table 4: Non-cash Retail Payments in Selected Countries
Number per capita, 2006
Cheques Direct debits Direct credits Debit cards Credit cards
Australia 22 25 62* 64 63
Canada 41 20 29 101 66
France 61 43 41 89** na
Germany 1 89 88 25 5
Netherlands 0 70 84 89 4
Sweden <1 22 63 110 22
Switzerland <1 5 86 39 15
United Kingdom 29 47 51 77 34
United States 102 29 21 87 75

* Includes BPAY transactions
** Split between debit and credit cards not available

Sources: ABS; BIS; RBA
Table 5: Interchange Fees
As at June 2008, excluding GST
Credit card Debit card
MasterCard Visa MasterCard Visa
Consumer standard 0.43% 0.55%   36.4¢ 0.31%
Consumer electronic 0.43% 0.40%   9.1¢ 8.0¢
Consumer chip 0.63% 0.50%   13.6¢ –
Commercial 1.15% 1.15%   36.4¢ –
Commercial chip 1.35% –   40.9¢ –
Premium 0.95% 0.90%   – –
Premium chip 1.15% 1.00%   – –
VMAP* – 0.30%   – –
Tiered merchants 0.34% –   3.6¢ –
Petroleum 0.34% –   9.1¢ –
Government and utility          
– electronic 0.30% 30.0¢   29.1¢ 8.0¢
– standard 0.30% 74.0¢   29.1¢ 37.0¢
Micropayment – 2.5¢   0.50% 2.5¢
Charity 0.00% 0.00%   0.00% 0.00%
Recurring payments 0.30% 0.40%   9.1¢ 8.0¢
Quick/express payments 0.30% 0.40%   0.50% 8.0¢
Electronic incentive – –   – 4.0¢
Benchmark 0.50% 0.50%   12.0¢ 12.0¢

* Visa Merchant Alliance Program

Sources: MasterCard website; RBA; Visa website
Table 6: Credit Card Rewards Programs
Four largest banks, June 2008
Average spending
required for $100 voucher		 Benefit to cardholder
as a proportion of
spending (%)
2003 $12,400 0.81
2004 $14,400 0.69
2005 $15,100 0.66
2006 $16,000 0.63
2007 $16,300 0.61
2008 $16,700 0.60

Sources: Banks' websites, Cannex