Reserve Bank of Australia's Payments System Board to publish end March conclusions on card surcharging and backs cash distribution regulation

The Reserve Bank of Australia’s Payments System Board released an update from its March 2026 meeting, signalling potential regulatory changes for merchant card payments and supporting a proposed regulatory framework for cash distribution service providers. The Board agreed to publish a Conclusions Paper and an implementation timeline by the end of March covering possible amendments to card system regulation. On cash, the Board focused on the sustainability of distribution arrangements and supported a framework that would include public sector crisis powers to manage risks to continuity of cash distribution services across Australia, noting cash access remains vital for many Australians, particularly in regional and remote communities. For card payments, discussions covered the public interest case and evidence for changes to surcharging settings, interchange fee regulation and transparency of card payment fees. The Board also reviewed system-wide payments resilience, citing RBA analysis of systemic risks linked to limited interoperability, third-party and concentration risks, and resilience arrangements for merchant card acquiring, with the RBA to share analysis and provide guidance to industry. In account-to-account payments, members noted that removing the 2030 target end-date for Bulk Electronic Clearing System decommissioning reduced near-term transition risk, but raised concerns that insufficient industry consensus, especially on future bulk payments processing, is impeding decision-making and progress. The Board stated that if coordinated industry progress remains inadequate, the RBA would take further action to achieve outcomes in the public interest, and confirmed the Project Acacia final report will be published in late April.