The RBA’s Payments System Board recently made some encouraging statements about LCR and also touched on  number of other issues of interest to eftpos including ATMs, CNP fraud, digital identity and NPP.

On Least Cost Routing the Board said: “Least-cost routing (LCR) of contactless debit card transactions. The major banks and many smaller acquirers have now made LCR functionality available to merchants, though in some cases, banks are only offering LCR on a relatively narrow range of terminals or merchant plans, or to a limited range of merchant types. The Board discussed the importance of banks ensuring that LCR is genuinely available to a wide range of merchant customers and that merchants are provided with information about the full range of payment options”.