Boardroom Briefing – Regulatory Interventions And Their Consequences – In The Australian Payment Card System

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Date(s) - 28/11/13
6:00pm - 7:00pm


ACFS/Finsia Office
L46, Rialto South Tower, 525 Collins Street

Speaker – Prof Steve Worthington, Monash University
This paper reports on the impact of regulatory interventions in the Australian payment card market, over a ten year period from 2003-2013.
The paper documents the interventions; their consequences and some of the reverberations that have provoked the need for further interventions. It discusses these by topic area, starting with the credit card; then the debit card; the issue of surcharging; innovation in the payment card system and finally Automatic Teller Machines.
It concludes by discussing the overall changes in the way that Australians access and then spend their disposable income and the ever increasing shift towards a Less Cash Society, if not a Cash Less society.