{"id":"F2016L01371","name":"Payment Systems (Regulation) Act 1998 - Revocation of Standards No. 2 Merchant Pricing for Credit Card Purchases","slug":"payment-systems-regulation-act-1998-revocation-of-standards-no-2-merchant-pricing-for-credit-card-pu","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"repealed","isInForce":false,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":94958,"registerId":"commonwealth-F2016L01371-current","compilationNumber":null,"startDate":"2026-04-02","status":"Repealed","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Payment Systems (Regulation) Act 1998 - Revocation of Standards No. 2 Merchant Pricing for Credit Card Purchases","content":"---\nmeta-content-style-type: text/css\nmeta-content-type: application/xhtml+xml; charset=utf-8\nmeta-generator: Aspose.Words for .NET 20.2\n---\n\n?xml version=\"1.0\" encoding=\"utf-8\" standalone=\"no\"?>\n\n![](image.001.png)\n\nREVOCATION UNDER THE PAYMENT SYSTEMS (REGULATION) ACT 1998\n\n \n\nRevocation of StandardS NO.2 Merchant Pricing for Credit Card Purchases\n\n \n\nPursuant to subsection 18(3) of the Payment Systems (Regulation) Act 1998, the Reserve Bank of Australia revokes, with effect on 1 September 2016, each of:\n\n(a)           Standard No. 2 Merchant Pricing for Credit Card Purchases gazetted on 27 August 2002 which applied to the MasterCard System with effect from 1 January 2003, as amended; and\n\n(b)          Standard No. 2 Merchant Pricing for Credit Card Purchases gazetted on 27 August 2002 which applied to the VISA System with effect from 1 January 2003, as amended.\n\n \n\nSigned\n\n \n\n \n\nGlenn Stevens  Governor  Reserve Bank of Australia\n\nDate: 31 August 2016\n","sortOrder":0}],"analysis":{"kimi_summary":{"_metrics":{"model":"kimi-k2.5","source":"moonshot-batch","completionTokens":2268},"content_quality":"ok","complexity_score":1,"scope_assessment":{"changed":false,"description":"This is a revocation instrument that removes specific standards rather than expanding the legislation's scope. The revocation aligns with the original purpose of the Payment Systems (Regulation) Act 1998 by adjusting regulatory oversight as market conditions evolve. The scope remains focused on payment system regulation, simply removing redundant standards that were superseded by voluntary scheme changes and other legislation."},"complexity_factors":["Single operative provision (revocation)","No defined terms or interpretation section","Only one cross-reference (to section 18(3) of the parent Act)","Very short (under 200 words)","No conditional logic or exceptions"],"plain_english_summary":"This instrument cancels the Reserve Bank’s old Standard No. 2 (from 1 Sept 2016), removing RBA-specific rules that had required Visa and Mastercard to let merchants add credit‑card surcharges. \n\nMerchants can still surcharge, but that practice is now governed by general consumer‑protection law rather than the RBA’s payment‑system standard; consumers and card schemes remain subject to existing protections and the card networks’ own rules."}},"importantCases":[],"_links":{"self":"/api/acts/payment-systems-regulation-act-1998-revocation-of-standards-no-2-merchant-pricing-for-credit-card-pu","history":"/api/acts/payment-systems-regulation-act-1998-revocation-of-standards-no-2-merchant-pricing-for-credit-card-pu/history","analysis":"/api/acts/payment-systems-regulation-act-1998-revocation-of-standards-no-2-merchant-pricing-for-credit-card-pu/analysis","conflicts":"/api/acts/payment-systems-regulation-act-1998-revocation-of-standards-no-2-merchant-pricing-for-credit-card-pu/conflicts","importantCases":"/api/acts/payment-systems-regulation-act-1998-revocation-of-standards-no-2-merchant-pricing-for-credit-card-pu/important-cases","documents":"/api/acts/payment-systems-regulation-act-1998-revocation-of-standards-no-2-merchant-pricing-for-credit-card-pu/documents"}}