Merchant fees hit record highs as card spending surges
Visa and Mastercard credit card merchant fees both reached 0.99% in the March quarter - the highest levels on record - while debit fees also climbed sharply. The increases come as card spending hit historic highs, with credit up 12% and debit surging 15% year-over-year, putting additional pressure on retailers already facing margin compression.
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Cash still growing as ATM withdrawals hit a six-year high and debit surges
ATM withdrawals reached $9.3 billion in February, the highest single month since July 2020 when $9.7 billion was withdrawn. It is the only form of cash access still growing, up 2% annually as debit card usage continues to surge.
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Debit cards hit 77% of volume and 70% of in-store purchase value for first time
Australian consumers continued their shift towards debit cards in January 2026, with debit reaching 77% of volume and a milestone 70% share of in-store card purchase value for the first time on record.
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Australia breaks new records on card spending ... and merchant fees
New data shows 2025 saw record card usage in Australia, but fees charged to merchants for accepting those cards also increased across almost all card categories.
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Cash demand up at branches as closures continue
The latest Reserve Bank of Australia (RBA) statistics show demand for cash remains strong at bank branches, while some banks continue to close their doors at globally high rates.
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Australian card payments cross $1.1 trillion milestone
Australian card payment volumes have crossed the $1.1 trillion threshold for the first time, reaching $1.105 trillion over the past 12 months. The milestone reflects continued growth in consumer card usage.
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Device-not-present transactions account for 85% of card payment growth
The dominance of device-not-present payments continues to reshape the Australian payments landscape. The latest RBA data shows that of the $107.4 billion increase in annual card spend over the past year, $90.8 billion, 84.6% of total growth, has come from online shopping, bill payments and subscriptions.
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Credit card growth overtakes debit as interest-bearing balances hit four-year high
Annual growth in credit cards has overtaken annual growth in debit cards for the first time since August 2023, ending two years of stronger debit card growth.
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Online set to dominate card transactions by end of 2026
The latest RBA payments data reveals Australian card spending retreated to $92 billion in August, while device-not-present transactions broke through 45% of total payments for the first time, putting online and bill payments on track to dominate by end of 2026.
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Debit spend up, while credit pays the bills
July's RBA payment data, released on Monday, reveals diverging trends: credit cards struggle in-store but dominate bill payments, while strong debit card growth suggests returning consumer confidence in discretionary spending.
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Monthly payments data report
The RBA released its retail payments data as at June 2025 on August 7, showing declines in in-store credit card spending and New Payments Platform (NPP) growth moderating.
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Australia’s record credit card surge hides a surprising twist
Credit card spending just hit a two-year high, but the real story isn't about consumers. It's about businesses on the brink.
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Card growth slows, but credit debt not yet getting out of hand.
This week the RBA released its Retail Payments data to April 2025. Here are the latest results.
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