Payments System Board Annual Report – 2012 List of tables

Table 1: Number of Meetings Attended by Each Member in 2011/12

Table 2: Australian Non-cash Retail Payments

Table 3: Online Payments by Payment Method

Table 4: Online Retail Payments

Table 5: Non-cash Retail Payments in Selected Countries

Table 6: Interchange Fees

Table 7: Typical Features of Personal Credit Cards, by Type

Table 8: Fraud on Australian-issued Payment Instruments

Table 1: Number of Meetings Attended by Each Member in 2011/12(a)
Glenn Stevens 4 (4)
Malcolm Edey 4 (4)
John Laker 4 (4)
Joseph Gersh 4 (4)
Robert McLean 4 (4)
Catherine Walter 3 (4)
Brian Wilson 4 (4)
(a) Figures in brackets show the number of meetings each member was eligible to attend
Table 2: Australian Non-cash Retail Payments
2011/12 Average annual growth, 2006/07–2011/12
Per cent of total Average value Growth, per cent Per cent
Number Value $ Number Value Number Value
Cheques 3.2 8.3 5,154 −12.2 −7.7   −11.2 −6.9
Direct debits(a) 9.7 40.0 8,319 3.7 9.6   6.2 6.9
Direct credits(a),(b) 21.8 47.3 4,347 4.7 8.8   6.6 3.7
Debit cards 37.9 1.2 64 14.9 11.5   14.6 12.8
Credit cards(b) 23.1 1.6 143 5.7 4.6   5.8 6.6
BPAY 4.3 1.6 748 6.9 11.9   10.2 12.5
Total 100.0 100.0 2,010 7.9 7.5   8.0 3.9

(a) Growth in 2011/12, particularly by value, was largely driven by one institution
(b) Excludes BPAY transactions

Sources: BPAY; RBA
Table 3: Online Payments by Payment Method
2011/12
Per cent of total Growth, per cent
Number Value Number Value
Direct entry 48.7 88.2 11.8 14.5
BPAY 22.7 9.8 9.0 13.2
Credit cards, and MasterCard and Visa debit cards 23.8(a) 1.8 25.0(a) 16.7
Specialised payments providers(b) 4.8 0.2 41.3 36.6

(a) Includes double-counting of some PayPal transactions
(b) Estimates included for one provider for the March and June quarters 2012

Sources: BPAY; RBA; specialised payments providers
Table 4: Online Retail Payments
Shares in the year to June 2012, per cent
Number Value
Credit cards 54.5(a) 70.9(b)
MasterCard and Visa debit cards 28.5(a) 18.6(b)
Specialised payments providers(c) 16.9 10.5

(a) Includes double-counting of some PayPal transactions
(b) Adjusted for the double-counting of some PayPal transactions
(c) Estimates included for one provider for the March and June quarters 2012

Sources: RBA; specialised payments providers
Table 5: Non-cash Retail Payments in Selected Countries
Number per capita, 2010
Cheques Direct debits Direct credits Debit card Credit card(a) Total
Australia 13 30 67(b) 102 70 282
Belgium 1 23 92 87 11 214
Brazil 9 22 40 15 18 104
Canada 27 19 29 117 84 276
China 1 na 1 4(c) na na
France 48 53 46 114(c) na 261
Germany 1 106 72 27 6 212
Hong Kong na na na 15 51 na
India 1 <1 <1 4 <1 5
Italy 5 10 20 15 10 60
Japan(d) 1 na 11 <1 41 na
Korea 15 29 54 29 116 243
Mexico 4 <1 8 6 4 22
Netherlands na(e) 79 95 138(c) na 312
Russia <1 1 18 7 <1 26
Saudi Arabia <1 <1 <1 44 1 45
Singapore 15 11 7 40 na na
South Africa 2 11 11 20(c) na 44
Sweden <1 29 105 154 42 330
Switzerland <1 6 94 50 21 171
Turkey na na na 3 27 na
United Kingdom 18 52 55 106 33 264
United States 74 37 25 142 69 347

(a) Includes charge cards
(b) Includes BPAY
(c) Split between debit and credit cards not available
(d) Figures for Japan are for 2008
(e) Cheques have been abolished in the Netherlands since 2001

Sources: ABS; BIS; RBA
Table 6: Interchange Fees(a)
As at 30 June 2012, excluding GST
Credit card Per cent unless
otherwise specified 		Debit card Cents unless otherwise specified
MasterCard Visa MasterCard Visa eftpos
Consumer electronic 0.35 0.40 6.0 8.0 4.5
Consumer standard 0.40(b) 0.45 19.0 0.30% –
Consumer chip 0.35 – 12.0 – –
Premium/platinum 1.00(c) 1.00 0.50% 0.40% –
Premium chip 1.00 – – – –
Super premium 1.60(d) 1.70 – – –
Commercial 1.27 1.28 1.27% 1.00% –
Commercial chip 1.27 – 1.48% – –
Strategic merchant 0.25
or 0.34		 0.25
to 0.35		 3.6 4.0
to 60.0		 –
Government/utility 0.30 0.30 7.0 8.0 –
Charity 0.00 0.00 0.00% 0.00% 0.0
Petrol/service station 0.34 0.32 4.0 6.0 –
Education 0.30 0.40 – 8.0 –
Supermarket – 0.32 – 6.0 –
Insurance – 0.40 – 8.0 –
Transit – 0.30 – 6.0 –
Recurring payment 0.30 0.30 9.1 8.0 –
Quick Payment Service 0.40 – 4.0 – –
Contactless payment 0.35 – – – –
Micropayment(e) – – 4.0 – 0.0
Large ticket(f) – $20 + 0.20% – $10 + 0.10% –
Cash-out(g) – – – – −13.6
Medicare Easyclaim – – – – 0.0
Benchmark 0.50 0.50 12.0 12.0 12.0

(a) Positive fees indicate those paid to the issuer; negative fees indicate those paid to the acquirer
(b) May be 0.30% or 0.35% depending on use of MasterCard's SecureCode online authentication system
(c) May be 0.90% or 0.95% depending on use of MasterCard's SecureCode online authentication system
(d) May be 1.50% or 1.55% depending on use of MasterCard's SecureCode online authentication system
(e) For eftpos, these are transactions with a value less than $15; for MasterCard these are transactions with a value equal to or less than $20
(f) Transactions above $10,000 excluding travel/entertainment purchases
(g) Transactions with a cash-out component, including combined purchase/cash-out transactions

Sources: ePAL website; MasterCard website; RBA; Visa website
Table 7: Typical Features of Personal Credit Cards, by Type(a),(b)
Number Average annual fee Average interest rate Average spending for $100 voucher (primary card)(c) Average spending for $100 voucher (primary and companion card)(d) Range of rewards benefit (primary and companion card)
$ % $ $ %
No rewards
Low rate
June 2010 8 58 13.4 – – –
June 2012 9 58 13.5 – – –
Low fee
June 2010 8 15 19.8 – – –
June 2012 11 27 20.4 – – –
Gold or platinum
June 2010 13 83 16.1 – – –
June 2012 13 83 16.4 – – –
Rewards
Standard
June 2010 21 67 19.7 18,500 16,300 0.32–1.13
June 2012 20 71 19.6 18,100 15,700 0.46–1.00
Gold
June 2010 14 130 19.9 22,600 18,800 0.16–1.13
June 2012 8 142 20.2 18,300 15,600 0.37–0.93
Platinum
June 2010 11 289 20.0 17,000 11,400 0.58–1.23
June 2012 20 232 20.3 15,800 11,600 0.56–1.18
of which:(e)
Bank-branded
June 2012 12 222 20.9 19,100 12,000 0.56–1.18
Merchant-branded
June 2012 4 148 20.5 12,600 12,600 0.74–0.93
Super-premium
June 2012 3 507 20.7 11,300 9,400 0.87–1.22

(a) Reported averages are calculated as a simple average of relevant products' features. The total sample comprises over 80 credit
card products offered by the top nine credit card issuers and selected major merchants; the top nine issuers are based on issuing market shares calculated from the Reserve Bank's Retail Payments Statistics collection; only products which are available to all new cardholders are included in the sample
(b) For the purposes of this table, a rewards card involves the cardholder having the ability to accumulate a store of points, which may
be redeemed for goods or services – other benefits such as instant cash-backs, overseas travel insurance and extended warranties are not included; only rewards programs where a $100 shopping voucher can be redeemed are included in the calculations for rewards spending and benefits, but all rewards cards are included in the calculations for the number, annual fee and interest rate
(c) Average of the sum of the required spend for each applicable card; figures do not take into account the ability to earn additional reward points at certain merchants
(d) The value of spending required to obtain a $100 shopping voucher assumes cardholders with a credit card product containing a companion American Express card spend equal amounts on their MasterCard/Visa card and companion American Express card
(e) Scheme-branded credit cards are not shown

Sources: RBA; card issuers' websites
Table 8: Fraud on Australian-issued Payment Instruments
Cents per $1,000 transacted
2010 2011
All instruments 11.4 16.2
All cards 37.9 51.1
Scheme credit, debit and charge cards(a) 67.2 96.0
eftpos and ATM cards(b) 7.9 4.9
Cheque 1.3 0.7

(a) Fraud statistics for the scheme credit, debit and charge card fraud statistics are provided to APCA each quarter by the international
card schemes operating in Australia; the schemes included in the collection (Visa, MasterCard, American Express, Diners Club and JCB) cover nearly all credit card activity in Australia as well as a proportion of debit card activity
(b) Includes all transactions in which ‘savings’ or ‘cheque’ is selected at point-of-sale terminal or ATM

Source: APCA