Videos
October 17th 2022
The Australian Reserve Bank Announces Least Cost Routing for Digital Wallets
In this Retail Payments Talk, Athena Zhang and Brad Kelly discuss the RBA's recent announcement of Least Cost Routing for Digital Wallets in Australia.
In a market-leading move, the Reserve Bank of Australia has announced that it expects the payments industry to develop least-cost debit routing on all mobile wallet transactions¹ – which accounted for over $2.1 billion in value last year.²
CMSPI Economist Athena Zhang speaks to Payments Expert Brad Kelly to weigh in on the impact of wallet routing for Australian merchants.
Sources:
+- https://www.rba.gov.au/media-releases/2022/mr-22-27.html
- https://www.commbank.com.au/articles/newsroom/2021/05/digital-wallets-contactless-soar.html