The House of Representatives Standing Committee on Economics recommended a formal investigation into Mastercard and Visa. The committee’s report, A Level Paying Field, urges the Australian Competition and Consumer Commission (ACCC) to probe the companies' market influence.
Investigators will focus on complex card fees and the rising dominance of digital wallets like Apple Pay. The report warns that market concentration by these payment giants may stifle competition and innovation.
The inquiry analyzed how high transaction costs affect small businesses and the opaque role of international tech firms in Australia’s payment systems. Proposed reforms aim to increase transparency and lower costs for merchants and consumers.
The recommendations also seek to ensure fairer infrastructure access for new market entrants.