Visa, Mastercard agree to limit “tying conduct” to level playing field
Inside Retail
JUNE 23, 2023
Payment giants Visa and Mastercard have pledged not to offer merchants cut-price credit transaction rates if they lock into their debit transaction systems, a move small business advocates hope will level the playing field for local SMEs. On Wednesday, the Reserve Bank of Australia (RBA) announced both Visa and Mastercard have signed voluntary undertakings to limit “tying conduct”, or preferential credit transaction fees which encourage merchants to route debit transactions through their card pr
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