'Global trendsetter': Mastercard urges RBA to target Amex in payments blitz
A top global Mastercard exec says what happens in Australia "set a precedent for the world" on regulation, and that the central bank should level the playing field in payments.
One of Mastercard’s top global lieutenants has urged the Reserve Bank to level the playing field between card companies and competitors like American Express, as Australia emerges as a priority market in the global payments industry.
Lobbying RBA governor Michele Bullock, head of payments policy Ellis Connolly and policymakers in Australia last week, Mastercard vice chair Tim Murphy said the USD500 billion global payments company is willing the central bank to come to the right policy decisions.
“There's no question, Australia is a global trendsetter, both in terms of payments and in terms of regulation,” Murphy told Capital Brief. “What happens here does set a precedent for the world.”
Having previously served as general counsel and chief product officer at Mastercard, Murphy argues the ongoing RBA review gives Australia the first real opportunity to regulate payment providers equally.
