Reuters reports RBA is reviewing Aussie’s retail payments regulation to determine the cost and resilience of electronic payments and access to cash. Assistant Governor Michele Bullock said on Wednesday that ATM withdrawals were off 30 percent from March and more than 40 percent one year ago as customers switched to contactless payments. “So far, the bank has not mandated that acquirers explicitly offer least-cost routing to all their merchants, but it remains an option that will be considered in the review,” she said in a speech titled “Panic, Pandemic and Payment Preferences,” the news service reported. RBA’s investigation is expected to examine how transparency of the payment plans offered to merchants could be improved.

https://www.pymnts.com/digital-payments/2020/aussie-central-bank-may-lower-epayment-costs-using-regulatory-powers/