Third Report of the Review of the Four Major Banks

By David Jacobson The Third Report of the Review of the Four Major Banks by the House of Representatives Standing Committee on Economics has made 4 recommendations some of which overlap government announcements, other inquiries (including the Royal Commission on Banking) and litigation:
1. The committee recommends that banks be required to give merchants the ability to send tap-and-go payments from dual-network debit cards through the channel of their choice. The Committee recommends that if the banks have not facilitated this recommendation by 1 April 2018, the Payments System Board should take regulatory action to require this to occur.
2.The committee recommends that the Australian …read more

Source:: Bright Law

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