Where Interchange fees sits in the flow of extraction.
The wholesale card fee, revenue to card issuers, that the RBA caps. From 1 October 2026 the consumer credit cap fell from 0.8 to 0.3 per cent and the debit cap from 10 cents or 0.2 per cent to 8 cents or 0.16 per cent. The RBA estimates issuers lose about $660 million a year and merchants’ wholesale costs fall about $910 million a year, part of it only from 1 April 2027.