The RBA has proposed capping interchange fees at 0.3% per transaction, a change estimated to reduce bank revenue by $900 million annually. The Commonwealth Bank of Australia stated that most of the bank’s interchange revenue was returned to customers in the form of loyalty points last year. At present, banks can charge businesses up to 0.8% for every Mastercard or Visa credit card transaction. American Express has remained outside the RBA’s oversight until new legislation extended its authority to all players