Interchange rates in Australia will remain under the close supervision of financial authorities, according to a ruling announced last week.

The Reserve Bank of Australia, the country's central bank, said that stepping back from regulating interchange rates likely would not result in lower costs for card transactions because the payments industry has yet to introduce new products that could increase competition.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.