regularbum

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RBA to remove surcharges on debit, credit cards, card networks including eftpos, Mastercard and Visa in c/australia@aussie.zone
[–] regularbum@aussie.zone 6 points 1 day ago

I’m talking about the part where fees are essentially hidden to consumers (but not to businesses). This separate change you mentioned will still be good, but doesn’t negate that fees are now hidden.

RBA to remove surcharges on debit, credit cards, card networks including eftpos, Mastercard and Visa in c/australia@aussie.zone
[–] regularbum@aussie.zone 10 points 1 day ago (2 children)

I feel like this will just hide to regular folk how much we are just giving away to visa and Mastercard and lessen the popularity for a public payment network (similar to the one Europe is building).

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

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.

Government halves fuel excise to cut price on petrol and diesel in c/australia@aussie.zone
[–] regularbum@aussie.zone 11 points 2 days ago (1 children)

I can see an argument that this will keep the same consumption of fuel as before in order to sustain the economy (and they are betting on supply issues not getting worse) but shouldn’t this then be accompanied with at least some other measures to reduce overall consumption (eg federal support for cheaper public transport or WFH options)?

Or maybe this is to just make people not “feel” the effects of the war to keep everyone happy?