Media Release Number 2012-15: At its meeting on 18 May, the Payments System Board decided to vary the Standards relating to merchant surcharging on credit and scheme debit cards. The variation allows card scheme rules to limit surcharges to the reasonable cost of card acceptance. The variation continues to ensure that merchants can fully recover their card acceptance costs. The Payments System Board has also decided to implement a new designation for the EFTPOS system to reflect changes in the structure of the system since it was first designated in 2004. The Bank is now launching the second phase of its review of the EFTPOS system. This consultation seeks views on options for the Bank’s future regulation of EFTPOS interchange fees and access to the EFTPOS system, including on whether an interchange fees standard and/or an access regime are required.