ABC

The Reserve Bank of Australia (RBA) has raised concerns about online retailer eBay's attempt to change its payment system.

The Australian Competition and Consumer Commission (ACCC) is assessing the possible effects of eBay's plan to mandate the use of PayPal for most transactions made on the site.

In a submission to the ACCC, the RBA says such a move could limit the ability of new online payment systems to become established, and for existing systems to compete in the market.

It also says it could limit consumers' choice and restrict merchants' ability to negotiate lower fees.