Aussies mirror NZ on proposed bank interchange fee chop

Australian proposals roughly mirror NZ’s on capping bank interchange fees. (Image: Supplied)

Wed, 16 Jul 2025

Australian regulators are proposing to slash bank interchange fees in much the same way as the New Zealand Commerce Commission has proposed.In what appears to be a blow for NZ financial services providers who are lobbying against a similar move here, the Reserve Bank of Australia’s Payments System Board (PSB) argues that most of the reasons advanced by the bank and credit card sector for maintaining higher interchange fees no longer apply in mature markets for electronic payments.The NZ Commerce Commission’s decision on interch...

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