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PayDay News | Australian Payments News

“Monopoly” schemes and blended rates killing retail payments competition, says committee

Editor
25 Feb, 2026
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Warwick Ponder
Editor
25 Feb, 2026
Add us as a preferred source on Google
A parliamentary inquiry into card schemes and digital wallets has labelled the dominance of US card schemes in Australia a “monopoly”, while others said the benefits of least-cost routing are being eroded by pervasive blended rate plans.
“Monopoly” schemes and blended rates killing retail payments competition, says committee
The Reserve Bank of Australia’s Head of Policy Ellis Connolly (left) and member of the House Economics Committee, Jerome Laxale MP (right).

A parliamentary inquiry into card schemes and digital wallets has labelled the dominance of US card schemes in Australia a “monopoly”, while others said the benefits of least-cost routing are being eroded by pervasive blended rate plans.

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