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Yes, they can regulate the merchant rate, and no they're not limited to who they regulate (provided there's a nexus to a payment system).

By capping merchant fees that Amex charges. But this wasn't canvassed because legislation covering Amex hadn't yet passed.

I'm still on FFFL, so will hang onto it. But while the Citi points crediting was opaque, it got it right, unlike NAB. (I'm keeping my nose clean to try and get an Amex Qantas Ultimate as a long term keeper because the earn rate is much better and the travel credit offsets the annual fee. But I...

They did. They indicated a preference for banning surcharges, and limiting interchange fees. However, the legislation to regulate Amex etc hadn't passed Parliament at the time consultation kicked off so Amex's fees were not included. One thing at a time...

Yeah - my recent Amazon AU order (who are the very definition of an online retailer) posted at 1PPD...

By influencing the price Amex charges directly... As seen with the caps on fees merchants can charge their customers (which as noted are limited by the standard to the 'cost of acquisition'), the RBA's powers are not limited to 'interchange' fees. Any Amex fees can be regulated once the...

Section 18A is needed to authorise potentially anti-competitve conduct in the setting of wholesale fees by the providers. It replaced regulations that did the same thing and I'd imagine that similar regs would be needed if the RBA went down the path of regulating Tyro fees.

Or Tyro's for that matter.

Yup - it's (another) good reason for just banning surcharges. There are also rules around transparency (i.e. disclosure of surcharges) enforced by the ACCC that seem to be more honoured in the breach than the observance. Just ban them!

Credit and debit card interchange fees between acquirers (like Tyro or merchants) and issuers (Visa and Mastercard) are directly capped at between 20 and 80 basis points (which has the practical effect of limiting the fees payment providers like Tyro charge end users), while merchants are...

No - as I said, the powers are sweeping, and cover fees charged to end users.

Not sure how familiar you are with the Payment System (Regulation) Act 1998 but it gives the RBA sweeping powers to make standards for payment systems (including capping fees).

The Treasury Laws Amendment (Payments System Modernisation) Act 2025 passed Parliament a couple of months ago, and extended RBA powers to Amex, BNPL and other payment systems. (Of course, in the typical style of modern Australian regulation, the RBA looks let to cave at the slightest hint of...

Nup…

https://www.velocityfrequentflyer.com/partners-offers/airlines/singapore-airlines#tab_transfer

Well, my backlog has now posted and... it's weird (as is the timing it must be said). Qantas and Binge - both online - posted at 2ppd, but other transactions conducted online like Coles Online (hint NAB - look at the name!), Pernod Ricard and Melbourne Airport only got 1PPD.

FWIW, I renewed Paramount Plus on Sunday and got 160 points on a $79.99 spend.

Under the Citi site, it was typically the business day after the transaction posted (rather than being pending). MyCard is certainly taking much longer. Looking on the rewards site, the transactions are posting but the last few days are showing up as zero points. I'll wait a few days to see if...

As am I. They've started trickling in but they're taking their sweet time...

Waves hand!