33
Payments Regulation in Asia
$0 $100,000 $200,000 $300,000 $400,000 $500,000 $600,000
Credit and Charge Cards
Debit Cards
Figure 8. Total Value of Transactions - Australia (2002-2023) 60
PUBLIC REPORTING OF CARD FEES
Reserve Bank of Australia Payments Statistics
The Reserve Bank of Australia has published monthly and quarterly statistics on Australian payment systems from its Retail Payment Statistics collection since 2002. The statistics cover credit and debit card systems, the direct entry system, the ATM system, and check payments. Financial institutions and payment service providers report the data every month to the RBA. The data allows the bank to monitor payments activity and informs the Bank’s policy advice to the Payments Systems Board, the party within the RBA responsible for “promoting efficiency and competition in Australia’s payments system and contributing to the overall stability of the financial system.” 61 The bank makes available selected aggregates of the detailed data in the RPS collection. Since the bank began collecting this data in 2002, the Bank’s performed one major project to update the RPS collection. In 2019, the bank expanded its collection to include expanded metrics such as total card volume and spending to segment international and domestic transactions, in-person and remote transactions, and personal and commercial credit card transactions. The bank determined that by publishing and updating the reporting, the reports “can provide greater insights into the changing payments mix and support research by policymakers, the private sector and the wider community.” 62
60
Ibid
61 https://www.rba.gov.au/publications/bulletin/2019/mar/pdf/new-payments-insights-from-the-updated-retail-pay- ments-statistics-collection.pdf 62 https://www.rba.gov.au/publications/bulletin/2019/mar/pdf/new-payments-insights-from-the-updated-retail-pay- ments-statistics-collection.pdf
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