Payments System Board Annual Report – 2017 List of tables

Chapters

Table 1: Board Meetings in 2016/17

Table 2: Non-cash Payments

Table 3: Transactions Settled in RITS

Table 4: Selected Debit and Prepaid Card Interchange Fees: eftpos(a)

Table 5: Selected Debit and Prepaid Card Interchange Fees: MasterCard and Visa(a)(b)

Table 6: Selected Credit Card Interchange Fees(a)(b)

Table 1: Board Meetings in 2016/17
Number of meetings
  Attended Eligible
Glenn Stevens(a) 1 1
Philip Lowe (Governor)(b) 4 3
Malcolm Edey (RBA)(c) 1 1
Michele Bullock (RBA)(d) 3 3
Wayne Byres (APRA) 4 4
Gina Cass-Gottlieb 3 4
Paul Costello 3 4
Robert McLean(e) 1 2
Deborah Ralston(f) 2 2
Catherine Walter 4 4
Brian Wilson 4 4

(a) Glenn Stevens' term as Governor ended on 17 September 2016
(b) Philip Lowe's term as Governor commenced on 18 September 2016. He attended the August 2016 meeting as an observer
(c) Malcolm Edey's term on the Board ended on 28 October 2016
(d) Michele Bullock's term on the Board commenced on 29 October 2016 following her appointment as Assistant Governor (Financial System)
(e) Robert McLean's term on the Board ended on 28 November 2016
(f) Deborah Ralston's term on the Board commenced on 15 December 2016

Table 2: Non-cash Payments
   
2016/17
  Average annual growth
2011/12–2016/17
Per cent of total   Average value   Growth (per cent) Per cent
Number Value $ Number Value Number Value
Debit cards 44.7 1.5   50   14.3 9.1   13.2 9.9
Credit cards 22.4 1.8   120   9.1 4.1   8.7 4.8
Direct credits 18.7 51.9   4,045   6.9 5.4   7.1 4.9
Direct debits 10.0 35.7   5,226   13.0 3.4   11.1 0.5
BPAY 3.3 2.2   980   1.9 8.1   3.9 9.7
Cheques 0.9 6.8   11,490   −21.0 −4.2   −16.1 −1.6
Total 100.0 100.0   1,460   10.7 4.1   9.7 2.8

Sources: BPAY; RBA

Table 3: Transactions Settled in RITS
Daily average, 2016/17(a)
  Number(b) Value(b) Interbank settlement
value in RITS
  '000s $ billion $ billion
RITS RTGS 46.4 175.0 169.1
SWIFT payments 43.0 105.1 105.0
Austraclear(c) 3.3 57.0 51.3
RITS cash transfers 0.2 12.8 12.8
CLS 53.6 261.2 2.7
Retail payments 46,154.0 67.1 4.3
Direct entry(d) 14,709.9 60.2  
Cheques 395.0 4.5  
Credit/charge cards(e) 10,357.2 1.3  
Debit cards 20,692.0 1.1  
Equity settlements (CHESS)(f) 1,053.1 9.6 0.5
Property settlements (PEXA)(g) 0.1

(a) Business days
(b) Includes payments between customers of the same financial institution
(c) Primarily debt securities transactions; includes cash-only transactions; excludes intraday repurchase agreements
(d) Includes BPAY
(e) Includes MasterCard obligations which are not settled through LVSS
(f) Gross value of equity trades settled in CHESS, ASX's clearing and settlement system for cash equity trades
(g) Net value of property settlement batches; each property settlement batch may involve a number of payments

Sources: ASX; CLS; RBA

Table 4: Selected Debit and Prepaid Card Interchange Fees: eftpos(a)
Excluding GST; cents unless otherwise specified
Category eftpos Debit and Prepaid
May 2016 July 2017
Consumer electronic 4.5
Proprietary debit & Digital 13.6
Dual-network debit 4.5
Strategic merchant(b) 0.0 to 4.5
Proprietary/Dual-network – Tier 1 0.0
Proprietary/Dual-network – Tier 2 1.8
Proprietary/Dual-network – Tier 3 3.6
Digital – Tier 1 1.8
Digital – Tier 2 3.6
Digital – Tier 3 5.5
Charity 0.0 0.0
Micropayment(c) 0.0
Medicare Easyclaim Refund 0.0 0.0
Benchmark 12.0 8.0
Ceiling 15.0 or 0.2%

(a) Fees are paid by the acquirer to the issuer, except for transactions involving a cash-out component
(b) As of July 2017, eftpos has three tiers of strategic merchant rates for each of the proprietary, dual-network and digital categories; prior to this, strategic rates were represented by a range under a single category
(c) Transactions equal to or less than $15

Source: ePAL website

Table 5: Selected Debit and Prepaid Card Interchange Fees: MasterCard and Visa(a)(b)
Excluding GST; cents unless otherwise specified
Category Debit Schemes Prepaid Schemes
MasterCard Visa MasterCard Visa
May
2016
July
2017
May
2016
July
2017
May
2016
July
2017
May
2016
July
2017
Consumer electronic 12.7 8.0 8.0 12.0 8.0 8.0
Consumer standard 0.27% 12.5 0.42% 0.20% 12.0 0.20% 0.42% 0.20%
Consumer premium 0.91% 0.20% 1.05% 0.20% 0.50% 0.20% 0.50% 0.20%
Business/ commercial 0.91% 0.20% 1.05% 0.20% 0.91% 0.20% 1.05% 0.20%
Strategic merchant 2.0 to 8.0 2.0 to 8.0
Tier 1 2.82 2.82 2.0 2.82 2.82 2.0
Tier 2 3.6 0.15% 5.0 3.6 0.15% 5.0
Tier 3 8.0 8.0
Charity 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Micropayment(c) 0.36 0.36
Contactless or MasterPass(d) 5.9 6.0
Mobile Contactless 15.0
Benchmark 12.0 8.0 12.0 8.0 8.0 8.0
Ceiling 15.0 or 0.2% 15.0 or 0.2% 15.0 or 0.2% 15.0 or 0.2%

(a) Fees are paid by the acquirer to the issuer, except for transactions involving a cash-out component
(b) Only select interchange categories have been listed. For example, each scheme has a number of industry-specific rates
(c) Transactions equal to or less than $15
(d) Contactless and MasterPass transactions equal to or less than $60, excluding some commercial cards

Sources: MasterCard website; Visa website

Table 6: Selected Credit Card Interchange Fees(a)(b)
Excluding GST; per cent
Category MasterCard   Visa
May 2016 July 2017 May 2016 July 2017
Consumer electronic   0.25 0.25
Consumer standard 0.29 0.24   0.25 0.25
Consumer elite/high net worth 1.82 0.80   2.00 0.80
Business elite/super premium 1.80 0.80   1.80 0.80
Strategic merchants   0.20 to 0.30
Tier 1 0.23 0.18   0.21
Tier 2 0.29 0.23   0.25
Tier 3   0.30
Charity 0.00 0.00   0.00 0.00
Benchmark 0.50 0.50   0.50 0.50
Ceiling 0.80   0.80

(a) Fees are paid by the acquirer to the issuer
(b) Only select interchange categories have been listed. For example, each scheme has a number of industry-specific rates

Sources: MasterCard website; Visa website