Despite objections from companies, the Reserve Bank of Australia is taking measures to ban surcharges for card payments. Source: AAP / Farid Farid
According to the Reserve Bank of Australia, consumers pay approximately 1.6 billion dollars in card surcharges each year. But that's about to change. As of 1 October the advertised price should be the price at the checkout. However, the costs of transactions do not disappear. The removal of the card surcharge leaves businesses, especially smaller operators, with a daunting choice to either absorb the cost of that transaction or pass it on.
According to the Reserve Bank of Australia, consumers pay approximately 1.6 billion dollars in card surcharges each year. But that's about to change. As of 1 October the advertised price should be the price at the checkout. However, the costs of transactions do not disappear. The removal of the card surcharge leaves businesses, especially smaller operators, with a daunting choice to either absorb the cost of that transaction or pass it on.
