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PayDay News | Australian Payments News

NAB and AP+ warn card tokenisation closing off least-cost routing

Senior Business Correspondent
10 Sep, 2026
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Michael Sainsbury
Senior Business Correspondent
10 Sep, 2026
Add us as a preferred source on Google
NAB and Australian Payments Plus (AP+) have warned that card tokenisation could undermine the merchant benefits of least-cost routing, but differ on how far regulators should intervene and who should be targeted.
NAB and AP+ warn card tokenisation closing off least-cost routing
NAB Managing Director and Group CEO, Andrew Irvine. Background generated by AI.

NAB and Australian Payments Plus (AP+) have warned that card tokenisation could undermine the merchant benefits of least-cost routing, but differ on how far regulators should intervene and who should be targeted.

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