It is also important to make clear that the Reserve Bank is not setting itself up as a regulator of merchant behaviour. What the proposed standard does is to empower the schemes to take action where surcharging is clearly excessive. It will be in their own interests to make use of this power.
The extent of relevance of international financial standards and codes, the task of implementation and the legal as well as other processes by which these standards are implemented would necessarily depend on the country concerned.