3rd February, 2016
Head of Payments Policy Department
Reserve Bank of Australia
GPO Box 3947
Sydney, NSW, 2000
email: pysubmissions@rba.gov.au
Dear Dr. Richards,
Subject: Review of Card Payments Regulation
Woolworths would like to thank the Reserve Bank of Australia for publishing its Review of
Cards Payments Regulation paper. Woolworths has been an active participant in the FSI
Process and we are pleased that the Bank has responded positively to the findings of that
Inquiry. Woolworths has been supportive of the Bank and its regulatory changes since 2003
and we view the publication of this document as further commitment to ensuring that the
Australian payments landscape remains a global leader in incentivising innovation at the POS.
Submission
Woolworths is broadly supportive of the changes that the Bank proposes in its media release dated
3rd December 2015
Woolworths, as the largest merchant, would support the lowest Interchange to support innovation and
bring the latest technologies to the Australian stores and online properties
Finally, Woolworths would like to thank the Bank for their continued interest in bringing payments
innovation, equity and reduced costs of acceptance in Australia. Should you wish to further discuss
any aspect of Woolworths’ submission please feel free to contact Vinay Rao at any time.
Yours Sincerely
Vinay Rao
Head of Payments