The ePayments Code

The ePayments Code regulates consumer electronic payment transactions, including ATM, eftpos and credit card transactions, online payments, internet and mobile banking, and BPAY. Among other things, the ePayments Code:

  • Requires subscribers to give consumers clear and unambiguous terms and conditions,
  • Stipulates how terms and conditions changes (such as fee increases), receipts and statement need to be made
  • Sets out the rules for determining who pays for unauthorised transactions, and
  • Establishes a regime for recovering mistaken internet payments.

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Fraud data

eftpos has the lowest fraud rates of any card payment type in Australia. The Australian Payments Network publish Australian fraud data.

Least Cost Routing

Least cost routing is a function (when enabled) that allows a merchant to choose the network that provides the best economic outcome for them on contactless transactions from dual network debit cards.

Debit cards represent around 70% of all card transactions in Australia, so merchants may have the potential to make significant cost savings.

Information about Least Cost Routing offers in market can be found here.

Further information about least cost routing can be found on the Reserve Bank of Australia website.

Cashless Debit Card

The Federal Government is trialling a Cashless Debit Card in an effort to find an effective tool for supporting disadvantaged communities reduce the consumption and effects of drugs, alcohol and gambling that impact on the health and wellbeing of communities, families and children. Find out more about the trial

# eftpos does not guarantee the accuracy of information on external websites