Interestingly, interchange fees in Australia for credit cards are going to get capped to 0.8% later this year. This is forcing banks to re-evaluate their reward

Interestingly, interchange fees in Australia for credit cards are going to get capped to 0.8% later this year. This is forcing banks to re-evaluate their reward card offerings. AIUI, American Express isn't affected because they have direct relationships with each individual merchant. The big 4 banks in Australia have historically offered an Amex card and a Visa/MasterCard linked to the same account (because Amex isn't accepted everywhere and often attracts surcharges). If ANZ's recent move is anything to go by, it looks like the banks won't be able to afford offering a linked Amex with their accounts.