Interchange may fall in 2010

Credit card interchange would fall forty per cent, to 30 basis points from 50 basis points, under RBA pricing proposals that may apply from 2010.

Interchange scheme debit would also fall to five cents, in line with Eftpos, which is also five cents and won't be changed.

The Payments System Board wrote at the RBA website yesterday that it was "proposing that, at its August 2009 meeting, it take stock of progress by industry.

"If at that time it were satisfied that sufficient progress had been made by industry, it would proceed to remove the interchange regulations.

"If, however, the board judged that insufficient progress had been made, its current thinking is that interchange regulation would continue."