Variation of Standard No. 1 of 2016 The Setting of Interchange Fees in the Designated Credit Card Schemes and Net Payments to Issuers (Cth)
PAYMENT SYSTEMS (REGULATION) ACT 1998
VARIATION OF STANDARD NO. 1 OF 2016
THE SETTING OF INTERCHANGE FEES IN THE DESIGNATED CREDIT CARD SCHEMES AND NET PAYMENTS TO ISSUERS
Pursuant to Section 18(3) of the Payment Systems (Regulation) Act 1998, the Reserve Bank of Australia determines a variation to Standard No. 1 of 2016 The Setting of Interchange Fees in the Designated Credit Card Schemes and Net Payments to Issuers.
Signed
Philip Lowe
Governor
Reserve Bank of Australia
Date: 20 November 2017
VARIATION OF STANDARD NO. 1 OF 2016
THE SETTING OF INTERCHANGE FEES IN THE DESIGNATED CREDIT CARD SCHEMES AND NET PAYMENTS TO ISSUERS
Application
This Variation is determined under Section 18(3) of the Payment Systems (Regulation) Act 1998.
Variation
Standard No. 1 of 2016 The Setting of Interchange Fees in the Designated Credit Card Schemes and Net Payments to Issuers is varied by replacing ‘60 days’ in paragraph 4.2 (b) with ‘2 months and 1 day’.
Commencement
This Variation comes into force on 21 November 2017.
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