Mastercard emerges as key backer of international body behind anti-RBA campaign

Mastercard has conceded it is one of the international backers of an US-based organisation which is opposing the Reserve Bank of Australia’s plans to remove the Eftpos interchange fees.

The financial global giant told Mumbrella it has “contributed” to the efforts of the International Alliance for Electronic Payments (IAEP) which is spearheading the ‘Don’t Change my Interchange’ campaign.

Mastercard said it was “supportive” of the campaign which paints a grim picture of higher prices and reduced benefits for consumers if the RBA’s proposal to ditch the Interchange fee is ratified.