CTHIn ForceLegislation
Standard No. 3 of 2016 Scheme Rules Relating to Merchant Pricing for Credit, Debit and Prepaid Card Transactions
1. Objective1. Objective
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Turn the raw legal text into a practical explanation grounded in Standard No. 3 of 2016 Scheme Rules Relating to Merchant Pricing for Credit, Debit and Prepaid Card Transactions.
1. Objective
The objective of this Standard is to promote:
- efficiency; and
- competition
in the Australian payments system by providing for scheme rules that require participants to give merchants the freedom to make a charge for accepting payment of a particular kind that reflects the cost to the merchant of accepting that payment type.