Payments System Board Annual Report – 2009 List of tables

Table 1: Number of Meetings Attended by Each Member in 2008/09

Table 2: Australian Non-cash Retail Payments

Table 3: Non-cash Retail Payments in Selected Countries

Table 4: Interchange Fees

Table 5: Credit Card Rewards Programs

Table 6: Table 6: RITS Throughput

Table 7: Direct Charges – Major Networks

Table 1: Number of Meetings
Attended by Each Member in 2008/09(a)
Glenn Stevens 4 (4)
Philip Lowe(b) 3 (3)
Malcolm Edey(c) 1 (1)
John Laker 4 (4)
Joe Gersh 4 (4)
Robert McLean 4 (4)
John Poynton 3 (4)
Catherine Walter 4 (4)
(a) Figures in brackets show the number of meetings each member was eligible to attend.
(b) Philip Lowe's term ended on 13 April 2009.
(c) Malcolm Edey was appointed to the Board on 14 April 2009.
Table 2: Australian Non-cash Retail Payments
2008/09 Growth, 2008/09
Per cent of total Average value ($) Per cent
Number Value Number Value
Cheques 6.0 10.8 4,225 −9.9 −15.2
Direct debits 10.6 35.9 8,000 5.9 1.4
Direct credits* 22.9 49.6 5,113 5.8 2.8
Debit cards 31.8 0.9 69 14.7 15.5
Credit cards 24.4 1.5 145 3.8 4.8
BPAY 4.3 1.3 714 11.6 12.5
Total 100.0 100.0 2,358 7.1 0.2

* Excludes BPAY transactions

Sources: BPAY; RBA

Table 3: Non-cash Retail Payments in Selected Countries
Number per capita, 2007
Cheques Direct debits Direct credits Debit cards * Credit cards Total
Australia 20 27 68 ** 72   66   253
Belgium 1 23 84   72   9   188
Canada 39 21 31   105   67   263
France 57 46 41   97 †† na   241
Germany 1 84 63   21   4   173
Italy 7 9 19   14   9   57
Japan 1 na 11   0   na   12
Netherlands na 72 86   98   5   261
Singapore 19 12 6   37   na   73
Sweden <1 23 71   126   21   240
Switzerland <1 6 85   41   17   149
United Kingdom 26 49 51   83   33   242
United States 94 34 21   100   78   327

* Includes scheme debit
† Includes charge cards
** Includes BPAY
†† Split between debit and credit cards not available

Sources: ABS; BIS; RBA

Table 4: Interchange Fees
As at June 2009, 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 5: Credit Card Rewards Programs
Four largest banks, June 2009
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
2009 $17,000 0.59

Sources: Banks' websites; Canstar Cannex

Table 6: RITS Throughput
Time by which each percentage of total is settled*
25 per cent 50 per cent 75 per cent
Jul 06 to Jul 07 12:00 14:45 16:15
Aug 07 to 12 Sep 11:45 14:30 16:00
15 Sep 08 to Oct 08 11:30 14:00 16:00
Nov 08 to Jun 09 11:30 14:00 15:45

* Excluding payments to and from the RBA.

Source: RBA

Table 7: Direct Charges – Major Networks(a)
Per cent
Cash withdrawal Balance enquiry
ANZ $2.00 $2.00
Bank of Queensland $2.00 $2.00
BankWest $2.00 $1.00
Cashcard $2.00 $0.75
Cashconnect(b) $2.00 $1.00
Commonwealth Bank $2.00 $2.00
Customers $1.00 to $2.00(c) $1.50 to $2.00(c)
iCash $1.00 to $2.00(c) $1.00 to $2.00(c)
NAB(d) $1.50 $0.50
RediATM(e) $1.50 to $2.00 $0 to $1.00
St. George $2.00 $2.00
Westpac $2.00 $2.00

(a) Data current as at 30 September.
(b) Also deploys ‘branded’ ATMs for other institutions which may apply different charges.
(c) Predominantly $2.00.
(d) Now part of the RediATM Network.
(e) At the discretion of sub-network members, but withdrawals capped at $2.00 and balance enquiries capped at $1.00.

Source: RBA