Second Joint Submission on RBA Review of Surcharging
The Australian Bitcoin Industry Body (ABIB) and Bitcoin Policy Australia have lodged a second submission to the Reserve Bank of Australia’s Review of Merchant Card Payment Costs and Surcharging, urging the RBA to move beyond incremental reforms and consider the encouragement of Bitcoin as a low-cost, cash-like permissionless digital payment rail.
Building on their 2024 submission, the organisations point to new global developments—such as Square’s rollout of Lightning payments and US recognition of decentralised protocols—that reinforce Bitcoin’s ability to cut merchant fees, foster competition, and modernise Australia’s payments system.
ABIB and Bitcoin Policy Australia reaffirm their commitment to working with policymakers on a forward-looking payments roadmap that lowers costs, supports innovation, and ensures Australia remains globally competitive.
Media Release
For Immediate Release
August 20, 2025
Contact: Bayani Mills, CEO, Australian Bitcoin Industry Body
Email: media@bitcoinindustrybody.org.au
Website: www.bitcoinindustrybody.org.au
For more details on the RBA review, visit RBA Media Release.
ABIB and Bitcoin Policy Australia Submit Second Joint Response to RBA’s Review of Merchant Card Payment Costs and Surcharging
The Australian Bitcoin Industry Body (ABIB) and Bitcoin Policy Australia (BPA) have today lodged a joint submission to the Reserve Bank of Australia’s Review of Merchant Card Payment Costs and Surcharging, welcoming the proposed reforms while urging the RBA to take bolder steps toward a more open and cost-efficient payments system.
The submission supports the RBA’s three headline proposals—ending card surcharges, reducing interchange fees, and mandating transparency of fee schedules—measures expected to save Australian consumers up to $1.2 billion annually.
However, ABIB and BPA warn that these changes amount to only incremental adjustments to a payments system that remains structurally flawed, heavily centralised, and costly for merchants and consumers alike.
The submission highlights new international developments underscoring the urgency of reform:
- Square’s Bitcoin Integration: Block Inc. has announced Lightning Network support across its Square point-of-sale terminals, directly lowering costs for more than 60,000 Australian businesses.
- Stablecoin Momentum: Global retail giants Amazon and Walmart are exploring issuing their own stablecoins to reduce billions in card fees.
- US Regulatory Shift: The GENIUS Act and the President’s Working Group have formally recognised Bitcoin and other decentralised protocols as key to future financial competitiveness.
ABIB CEO Bayani Mills said:
“Australia risks falling behind if we limit reforms to trimming the edges of the card networks. Permissionless global public infrastructure like Bitcoin and the Lightning Network delivers structural cost savings and resilience for merchants and consumers. The RBA needs to move forward and operate for Australians, not as a shield for corporate interests”
The organisations call on the RBA to commit to a future-oriented payments roadmap—one that embraces decentralised, low-cost alternatives and ensures Australia remains competitive as global payment systems rapidly evolve.
About the Australian Bitcoin Industry Body
The Australian Bitcoin Industry Body (ABIB) is a bitcoin-only organisation committed to advancing Bitcoin in Australia. ABIB represents the interests of the growing Australian Bitcoin industry and the increasing number of businesses and individuals using Bitcoin. Through advocacy, education, and community engagement, ABIB aims to promote a free, open, and inclusive financial future for all Australians.
For further inquiries or interview requests, please contact:
Bayani Mills
Australian Bitcoin Industry Body
Email: media@bitcoinindustrybody.org.au
Phone: +61 424 725 603
Ashley Porter
Bitcoin Policy Australia
Email: ashley@bitcoinpolicy.au
Phone: +61 402 117 935
