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AFTA tackles card issues

AFTA’S submission to the Reserve Bank review of card payment regulation (TD breaking news) has highlighted the thorny issue of credit card chargebacks due to end supplier insolvency. It’s the first review of the system in almost two decades, with AFTA reporting that Australian travel agencies are now conducting almost 90% of their transactions using electronic payment systems. “It is estimated that Australian travel agents have a minimum of $5.4 billion in chargeback risk at any given time, increasing the ...

The above snippet is the first part of an article sent to subscribers in Travel Daily's issue from 28 Apr 15

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