Credit card companies Visa, Eftpos distance themselves from interchange fee campaign
Visa and Eftpos have both distanced themselves from a campaign opposing Reserve Bank of Australia’s plans to remove the Eftpos interchange fees.
Both organisations told Mumbrella they have had nothing to do with the ‘Don’t Change my Interchange’ campaign launched by an international body called the International Alliance for Electronic Payments (IAEP), which is based in Alpharetta Georgia in the United States.
Mastercard, which is a client of global consultancy FTI Consulting who registered the campaign website, had not responded to Mumbrella requests for comment at time of publication.
Consumer body Choice yesterday branded the campaign “shadowy”, arguing it was unclear who exactly was behind the ads which, according to a press release issued by the IAEP, will run nationally across TV and radio.
If only one business is creating fear about a proposal, it tells me that that proposal is a good idea. So thank you front organisation.
As usual, vested interests try to shoot the messenger. Lack of transparency in financial services allows too many take a clip of the ticket. Unfortunately it appears Choice doesn’t have the expertise nor inside info to make an informed comment, they should encourage this effort to expose another financial services rort.
The question remains, since Roman times: Cui Bono?
Once this is known, then it is easy to discover who is watering the astro turf.
The Checkout need to do a special on this!