Excellent comments TBE but if you think the value chain isn't going to change why would Wildash estimate banks stand to lose $140M of fee revenue from DC ??
Comments for Nov 20th 08 article
In the case of Customers, users will be charged a $2 fee for using any one its machines, which are prevalent in convenience stores under brands including Bank of Queensland, St George, Arab Bank and Travelex.
Currently, Customers receives $1 per transaction and the bank or card issuer retains the other $1. The banks, never one to let a dollar go by, initially opposed direct charging, which was to have started three years ago.
Wildash estimates the banks stand to lose $140 million of fee revenue annually. But having completed the technical work to facilitate direct charging, they're now on board.
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