Payments System Board Annual Report – 2018 List of tables

Chapters

Table 1: Board Meetings in 2017/18

Table 2: Non-cash Payments

Table 3: Payments in Australia

Table 4: Selected Credit Card Interchange Fees

Table 5: Selected Debit and Prepaid Card Interchange Fees: Mastercard and Visa

Table 6: Selected Debit and Prepaid Card Interchange Fees: eftpos

Table 1: Board Meetings in 2017/18
Number of meetings
  Attended Eligible
Philip Lowe (Governor) 4 4
Michele Bullock (RBA) 4 4
Wayne Byres (APRA) 4 4
Gina Cass-Gottlieb 4 4
Paul Costello 3 4
Deborah Ralston 4 4
Catherine Walter 4 4
Brian Wilson 4 4
Table 2: Non-cash Payments
  2017/18   Average annual growth 2012/13–2017/18
Per cent of total   Average value   Growth (per cent) Per cent
Number Value $ Number Value Number Value
Cards 73.5 5.4   68   13.1 7.1   12.0 7.1
Debit cards 51.1 2.7   48   16.2 11.5   13.6 10.1
Credit cards 22.4 2.8   114   6.8 3.2   8.8 4.6
Direct credits(a) 16.6 62.8   3,483   6.9 2.8   7.5 4.8
Direct debits(a) 5.8 18.7   2,955   16.2 4.2   13.2 3.7
BPAY 3.4 3.8   1,053   2.1 9.7   3.3 9.5
Cheques 0.7 9.2   12,506   −19.6 −12.5   −17.4 −3.4
Total 100.0 100.0   922   11.5 1.9   10.4 3.9

(a) Adjusted for a reporting change in May 2018, which decreased the number and value of direct credit and direct debit payments

Sources: BPAY; RBA
Table 3: Payments in Australia
Daily average, 2017/18(a)(b)
  Number(c) Value(c) Interbank settlement value in RITS
  '000s Growth over last 3 years (per cent) $ billion Growth over last 3 years (per cent) $ billion Growth over last 3 years (per cent)
RITS RTGS 47 8 181 8 176 8
SWIFT payments 44 8 108 4 108 4
Austraclear(d)   12 59 14 55 15
RITS cash transfers – – 13 12 13 12
CLS 59 1 282 8 3 10
Retail payments 47,000 39 43 10 5 29
Direct entry(e) 12,000 29 37 13    
Cheques 320 −47 4 −17    
Credit/charge cards 10,000 30 1 13    
Debit cards 24,000 52 1 35    

(a) Does not include equity settlements or PEXA payments. NPP was launched in February 2018 and is not included.
(b) Business days
(c) Includes payments between customers of the same financial institution
(d) Primarily debt securities transactions; includes cash-only transactions; excludes intraday repurchase agreements
(e) Includes BPAY; adjusted for a reporting change in May 2018, which decreased the number and value of direct credit and direct debit payments

Sources: ASX; CLS; RBA
Table 4: Selected Credit Card Interchange Fees(a)(b)
Excluding GST; per cent
Category Mastercard Visa
June 2017 July 2018 June 2017 July 2018
Consumer electronic – – 0.25 0.21
Consumer standard 0.29 0.19 0.25 0.21
Consumer elite/high net worth 1.82 0.80 2.00 0.80
Business/Commercial 0.85 0.70 0.84 0.70
Business elite/super premium 1.80 0.80 1.80 0.80
Strategic merchants 0.23 or 0.29 0.18 or 0.23 0.20 to 0.30 0.21 to 0.30
Industry-specific merchants(c) 0.29 0.10 0.25 0.25
Benchmark 0.50 0.500 0.50 0.500
Ceiling – 0.800 – 0.800

(a) Fees are paid by the acquirer to the issuer, except for transactions involving a cash-out component
(b) Only selected interchange categories have been listed; Mastercard has 17 categories overall and Visa has 22 categories
(c) Interchange categories include education, supermarket, government, utilities, insurance, transit and petrol station, if applicable for the card scheme

Sources: Mastercard website; Visa website
Table 5: Selected Debit and Prepaid Card Interchange Fees: Mastercard and Visa(a)(b)
Excluding GST; cents unless otherwise specified
Category Mastercard Visa
June 2017 July 2018 June 2017 July 2018
Consumer electronic debit 12.7 – 8.0 8.0
Consumer standard debit 0.27% 12.5 0.42% 0.20%
Consumer electronic/
standard prepaid		 12.0 0.20% 8.0 or 0.42% 8.0 or 0.20%
Consumer premium 0.50% or 0.91% 0.20% 0.50% or 1.05% 0.20%
Business/commercial 0.91% 0.20% 1.05% 0.20%
Strategic merchant 2.82 or 3.6 2.82 or 4.5 2.0 to 8.0 2.0 to 8.0
Government(c) 7.0 0.20% 6.0 6.0
Petrol/service stations(c) 7.0 14.0 6.0 6.0
Recurring payment(c) 10.0 15.0 6.0 6.0
Micropayment(d) 0.36 0.36 – –
Masterpass(e) 5.9 6.0 – –
Benchmark(f) 12.0 8.0 12.0 8.0
Ceiling – 15.0 cents or 0.200% – 15.0 cents or 0.200%

(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; Mastercard has 17 categories overall and Visa has 16 categories
(c) Not applicable for Mastercard prepaid transactions
(d) Debit card transactions less than $15
(e) Contactless debit card transactions equal to or less than $60
(f) Prior to 1 July 2017, the debit card interchange fee benchmark did not apply to prepaid card transactions

Sources: Mastercard website; Visa website
Table 6: Selected Debit and Prepaid Card Interchange Fees: eftpos(a)(b)
Excluding GST; cents unless otherwise specified
Category eftpos Debit and Prepaid
June 2017 July 2018
eftpos only (proprietary) 13.6 13.6
Strategic categories 0.0 to 3.6 1.8 to 9.1
Dual network 4.5 4.5
Strategic categories 0.0 to 3.6 0.0 to 4.5
Digital (mobile, online) 13.6 14.5
Strategic categories 1.8 to 5.5 3.6 to 12.7
Deposit and withdrawal – 0.0
Charity and Medicare Easyclaim Refund 0.0 0.0
Benchmark 12.0 8.0
Ceiling – 15.0 cents or 0.200%

(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; ePAL has 20 categories overall

Source: ePAL website