RBA regulations could eat your frequent flyer points

Vendors can choose whether or not to accept certain or all credit cards, and credit card companies should be free to charge vendors whatever fee they see fit. Preventing this will only cause more harm than good.

Increasing the margins of retails stores at the cost of consumers will hurt small business owners, frequent flyers, and Australian families. The RBA should examine the consequences of this regulation in Europe—both the short and long term effect it has had on small business and consumers—before taking any action domestically. The initial effects seem to be anything but consumer-protection, and definitely harmful for small business.