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RBA to remove surcharges on debit, credit cards, card networks including eftpos, Mastercard and Visa (www.abc.net.au)

submitted 1 day ago by regularbum@aussie.zone to c/australia@aussie.zone

7 comments fedilink hide all child comments

From summary:

In short:

The RBA will remove surcharges on debit and credit cards, saving consumers and businesses about $1.8 billion each year.

The package of reforms also includes lowering the caps on interchange fees paid by Australian businesses, with a focus on small businesses currently paying the highest fees.

What's next?

Most of the reforms are due to take effect from October this year.

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[–] mthomson@forum.macaque.social 2 points 21 hours ago (1 children)

Surely all they'll do is increase the price of goods and hide the surcharge in there?

[–] Dimand@aussie.zone 1 points 15 hours ago

Yes, just like how the price of most things is an amalgamation of factors from profit, materials, labour transport, the cost of handling cash, rent, etc.

But you pay the price that is on the box. That's a core tenant of this country as far as I'm concerned.