Eftpos, which processes more than half of all Australian cards transactions, claims that MasterCard and Visa are marginalising or removing the companys branding from co-badged debit cards.
"Our competitors have done all they can to get our branding off the card, which is a little bit unfair," Eftpos managing director Bruce Mansfield told the Australian Financial Review. "They are trying to relegate our brand to the back of the card, or not on the card at all, so there’s no visual prompting there [to go through Eftpos]."
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But in an official statement, he confirmed that Eftpos was very happy to embrace a voluntary agreement.
We have been seeking this for some time," he said.
Contactless payments are also proving contentious, as payments made with PayWave or PayPass are being routed directly via the credit card networks, cutting out the Efpos debit system.
During a meeting last week, the RBA Payments Board said: Further issues have arisen between the various networks in the context of contactless debit cards. These developments have the potential, in the Board’s view, to inhibit competition, limit choice to consumers, and increase costs.
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By GlobalDataThere is significant interest among system participants for some rules of the game where two networks are seeking access to an issuer’s card, the board said.
