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The Australian Debit Card Market: Default Settings and Tokenisation – Conclusions Paper
The Bank has released a Conclusions Paper setting out the conclusions of its recent public consultation on options for further enhancing the competitiveness, efficiency and safety of Australia’s debit card market. As noted in the Payments System Board’s post-meeting media release in August, the key conclusions are: The Board decided that it will not continue to explore prohibiting the setting of a default routing network on dual-network debit cards (DNDCs). Stakeholders’ feedback indicated that any benefits from such a prohibition would likely be outweighed by the costs and risks involved. In particular, ... (full story)