3  Combining transactions across all card systems, average merchant service fees in Australia have fallen by 37 basis points from their level prior to the Bank’s reforms. See RBA (2014), Submission to the Financial System Inquiry, Sydney, p 213. 4  Merchant service fees are around 75 basis points lower than in the United States.
See RBA (2014), Submission to the Financial System Inquiry, March, p 213. BIS central bankers’ speeches  5