Review of Card Payments Regulation 6. Next Steps

The Board is seeking views from interested parties on the issues raised in this Paper. Formal written submissions on the options discussed in Chapter 5, or on any other aspect of the Bank's card payments reforms, should be provided by no later than 24 April 2015, and should be sent to:

Head of Payments Policy Department
Reserve Bank of Australia
GPO Box 3947
Sydney NSW 2001

or

pysubmissions@rba.gov.au.

Submissions provided by email should be in a separate document, in Word or equivalent format. Submissions in PDF format must be accompanied by a version in an accessible format such as .rtf or .doc.

All submissions will be published on the Bank's website, unless it is specifically requested that the Bank treat the whole or any part of a submission as confidential. In the normal course of events, those making submissions will be provided with an opportunity to discuss their submission with the Bank. The Bank will also consider any submissions on card payments regulation made in response to the current Government consultation on the FSI recommendations.

Following this consultation process, the Board will consider whether to consult on some specific changes to the regulatory framework. In the event that the Board considers that legislative reform would be desirable it will refer the issue to the Government.

Reserve Bank of Australia
4 March 2015