Payments System Board Annual Report – 2016 List of tables

Chapters

Table 1: Board Meetings in 2015/16

Table 2: Non-cash Payments

Table 3: Non-cash Retail Payments in Selected CPMI Countries

Table 4: Interchange Fees(a)

Table 5: Fraud Losses by Transaction Type

Table 6: Australian Dollar Payments

Table 1: Board Meetings in 2015/16
Number of meetings
Attended Eligible
Glenn Stevens (Governor) 4 4
Malcolm Edey (RBA) 4 4
Wayne Byres (APRA) 4 4
Gina Cass-Gottlieb 4 4
Paul Costello 4 4
Robert McLean 4 4
Catherine Walter 4 4
Brian Wilson 3 4
Table 2: Non-cash Payments
2015/16 Average annual growth 2010/11–2015/16
Per cent of total Average value Growth, per cent Per cent
Number Value $ Number Value Number Value
Debit cards 43.8 1.5 53 13.4 9.8 13.4 10.6
Credit cards 22.9 1.8 126 9.8 4.9 7.9 4.9
Cheques 1.2 7.4 9,483 −17.1 −1.8 −14.4 −2.3
BPAY 3.7 2.2 923 3.5 8.1 4.9 10.4
Direct debits(a) 9.9 36.2 5,709 10.8 3.1 9.2 0.6
Direct credits(a) 18.6 50.9 4,275 6.0 2.0 5.4 4.9
Total 100.0 100.0 1,559 10.0 2.4 8.9 2.8

(a) In March 2014 reporting changes by two institutions resulted in series breaks for direct credit and direct debit payments; the series have been backcast to account for the break

Sources: BPAY; RBA

Table 3: Non-cash Retail Payments in Selected CPMI Countries
Number per capita, 2014
Cheques Direct debits Direct credits Debit card Credit card(a) Total(b)
United States 45 45 30 187 96 403
Sweden <1 33 99 224 46 402
Netherlands 0(c) 69 121 180 8 378
Australia 7 37 75(d) 163 89 371
Korea 6 34 73 87 174 374
United Kingdom 10 57 61 158 43 329
Canada 20 21 36 138 110 325
France 38 54 52 75 22 241
Germany <1 105 72 31 9 217
Brazil 6 28 53 28 27 142

(a) Includes charge cards
(b) Excludes e-money
(c) Cheques have been abolished since 2001
(d) Includes BPAY

Sources: ABS; BIS; RBA

Table 4: Interchange Fees(a)
Excluding GST; as at 30 June 2016
  Credit card
Per cent
Debit card
Cents (unless otherwise specified)
MasterCard Visa MasterCard Visa eftpos(b)
Consumer electronic 0.25 12.7 8.0 4.5
Consumer standard 0.29 0.25 0.27% 0.42%
Consumer premium/platinum 0.64 0.84 0.91% 1.05%
Consumer super premium 1.11 1.20 or 1.25(c)
Consumer elite/high net worth 1.82 2.00
Business/commercial 0.85 0.84 or 1.15(d) 0.91% 1.05%(e)
Business/commercial premium 1.04 or 1.05(f) 1.30 0.91%
Business elite/super premium 1.80 1.80
Commercial large ticket(g) 1.04
Strategic merchant 0.23 or 0.29 0.20 to 0.30 2.8 or 3.6 2.0 to 8.0 0.0 to 4.5
Government/utility 0.29 0.25 7.0 6.0
Charity 0.00 0.00 0.0 0.0 0.0
Petrol/service station 0.29 0.25 7.0 6.0
Education/learning 0.29 0.25 6.0
Supermarket 0.25 6.0
Insurance 0.29 0.25 7.0 6.0
Transit 0.25 6.0
Recurring payments 0.29 0.25 10.0 6.0
Micropayment(h) 0.4 0.0
Contactless and MasterPass(i) 0.29 5.9
SecureCode (merchant) 0.29 8.0
SecureCode (full) 0.29 8.0
Digital secure remote payment (online) 0.29 8.0
MasterPass Advanced Checkout (online) 0.29 8.0
Digital Enablement Service 0.64 0.64%
Medicare Easyclaim Refund 0.0
Benchmark 0.50 0.50 12.0 12.0 12.0

(a) Fees are paid by the acquirer to the issuer, except for transactions involving a cash-out component
(b) eftpos interchange fees have not changed since October 2012
(c) 1.20% for the ‘Visa Rewards’ category and 1.25% for the ‘Visa Signature’ category
(d) Visa has three types of non-premium commercial rates: the ‘Business’ category attracts a fee of 0.84% while the ‘Corporate’ and ‘Purchasing’ categories attract a fee of 1.15%
(e) 1.05% for the ‘Business’ and ‘Corporate’ categories
(f) 1.04% for the ‘Commercial Corporate Executive’ category and 1.05% for the ‘Commercial Business Executive’ category
(g) Transactions equal to or above $10,000. MasterCard increased this rate from 0.68% to 1.04% in May 2016
(h) Transactions less than $15
(i) Contactless and MasterPass transactions equal to or less than $60, excluding some commercial cards

Sources: ePAL website; MasterCard website; RBA; Visa website

Table 5: Fraud Losses by Transaction Type
$ million
2014 2015
All instruments 450 529
Cheques 6 8
All cards 444 520
eftpos and ATM transactions 23 23
Scheme debit, credit and charge cards 421 497
Australian cards used in Australia 133 169
Card present 33 32
Card not present 99 137
Australian cards used overseas 231 269
Card present 30 43
Card not present 201 226
Foreign cards used in Australia 57 60
Card present 13 12
Card not present 45 48

Sources: APCA, RBA

Table 6: Australian Dollar Payments
Gross daily averages, $ billion(a)
2012/13 2013/14 2014/15 2015/16
Domestic
RITS 157.8 162.7 167.8 167.2
SWIFT payments (HVCS) 97.1 100.5 103.8 100.7
Debt settlements (Austraclear)(b) 48.5 50.3 52.0 54.8
RITS cash transfers 12.3 11.9 12.0 11.7
Retail payment systems(c) 59.7 61.8 62.3 63.8
Equity settlements(d) 4.2 4.0 4.4 4.6
Property settlements (PEXA)(e)     0.03 0.12
International
CLS 251.7 246.2 260.6 257.2

(a) Business days; includes payments between customers of the same financial institution
(b) Excludes intraday and open RBA repurchase agreements, and multilaterally netted interbank settlements arising from the retail payment systems and the equity market
(c) Data may be subject to revisions
(d) Gross value of equity trades
(e) Net double-sided value; 2014/15 value includes data from November 2014 to June 2015

Sources: ASX; CLS; RBA