Obligations under the Retail Payment System Act
We are responsible for making sure that the rules set in place under the Retail Payment System Act 2022 are followed.
Set out below is a current list of obligations that apply and who they apply to.
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Mastercard and Visa Interchange Fee Network Standard 2025
This pricing standard limits ‘interchange fees’ that Mastercard and Visa sets for debit and credit (excluding prepaid and commercial cards). This standard replaces an initial pricing standard that was set out in Schedule 1 of the Retail Payment System Act 2022 and came into force on 13 November 2022. The revised interchange fee limits are effective from 1 December 2025 for domestically-issued cards and 1 May 2026 for foreign-issues cards.
If you believe these requirements aren’t being followed, please let us know.
For more information on our role and responsibilities under the Retail Payments System Act 2022, please refer to the document below.