SYDNEY — The Reserve Bank of Australia said it will pursue further reforms to the country’s payments system, including potential regulation of emerging digital payment services, following the release of a major review into merchant card payment costs and surcharging.
In a conclusions paper tied to the review, the central bank outlined plans to begin a public consultation in mid-2026 to examine whether additional regulation is warranted across parts of the retail payments system not fully covered in the current review.
The bank said areas under consideration include mobile wallets, three-party card networks, buy now, pay later services and e-commerce platforms, reflecting the rapid evolution of digital payments and their growing role in consumer transactions.
The review focused on the costs merchants face when accepting card payments and the practice of surcharging customers to recover those costs. The RBA said the findings are intended to ensure the payments system remains efficient, competitive and in the public interest.
‘Further Work is Needed’
The central bank indicated that while its current review addressed key elements of card payment costs, further work is needed to assess newer payment methods and platforms that have gained prominence in recent years.
The planned consultation will seek input from industry participants and stakeholders on whether additional regulatory oversight is necessary to promote competition and protect consumers, the RBA said.
The move underscores the central bank’s broader role in overseeing Australia’s payments system and adapting regulatory frameworks to keep pace with technological change.
