We will also work with the ACCC as necessary to identify and address any anti-competitive behaviour. In the specific case of least cost routing, we would not want to see the benefits to competition from this innovation thwarted by issuers taking eftpos off dual-network cards. Conclusion Competition is important in payments. It delivers better customer experiences, more convenience and innovative products.
But as networks, collaboration is also often required. The development of the NPP and recent work on addressing fraud in card payment systems are good examples of where participants that are normally competitors have cooperated to ultimately deliver better outcomes for Australian consumers and merchants. These collaborative efforts, however, are not without their challenges.