The high fee savings are achieved through a combination of the following:

  • More competitive pricing, particularly for eftpos transactions fees; and
  • Least-cost routing, which means multi-network contactless debit card transactions are being routed to the lowest cost network, typically eftpos.

The enablement of least-cost routing means that you will see a change in the card mix with a higher share of transactions flowing to eftpos (away from Visa debit and Mastercard debit).