Card payment sucharges banned in Australia from 2026

[HMcM]

All very well if there is perfect competition, or even a good degree of imperfect competition. Where there competition is a long way from perfect (such as monopolies and oligopolies) most economists agree that some form of intervention is helpful to the efficient functioning of an economy.

The payment system is critical to the functioning of the economy and I presume RBA are introducing price caps to reduce what appears to be rent seeking in the sector.

Except there's an alternative payment method that results in zero interchange fees that is free for anybody to use, cash.

The reason the government is doing this is they have a vested interest in pushing more and more people onto card and away from cash so that they can track more of the economy. If you don't want to pay interchange fees then get some cash in your wallet.

 

[Cruiser Elite]

Cash is only usable if the vendor accepts cash - if they insist on card payment only you are screed with cash

 

[dajop]

The reason the government is doing this is they have a vested interest in pushing more and more people onto card and away from cash so that they can track more of the economy. If you don't want to pay interchange fees then get some cash in your wallet.

Ok. We've arrived at the crux of your argument now.

 

[MEL_Traveller]

Read that the US (DT) is looking to ban ‘swipe fees’ for credit cards. Reckons it’s gonna save every family USD1200 a year! (Analysts say it might be closer to USD140 a year.)

 

[HMcM]

Cash is only usable if the vendor accepts cash - if they insist on card payment only you are screed with cash

Except if they do not take cash payment it is already illegal for them to have a surcharge on all cards. They must provide a payment method at the advertised price.

Ok. We've arrived at the crux of your argument now.

That government control of the market is not a good thing? Yeah. Do you not think that the government wants to reduce the cash economy? Because they've been pretty damn public about it.

 

[Cruiser Elite]

Except if they do not take cash payment it is already illegal for them to have a surcharge on all cards. They must provide a payment method at the advertised price.

I think you might need to get out in the real world ASAP my friend - cash payment on airlines? Cash payment at major sporting venues? And that is just to start?

 

[Ansett Nostalgic]

Read that the US (DT) is looking to ban ‘swipe fees’ for credit cards. Reckons it’s gonna save every family USD1200 a year! (Analysts say it might be closer to USD140 a year.)

Card surcharges not so common in the US, I thought?

 

[MEL_Traveller]

I think you might need to get out in the real world ASAP my friend - cash payment on airlines? Cash payment at major sporting venues? And that is just to start?

Airlines get around it by offering direct deposit (poli?) or whatever. Or in Rex’s case you can head to the airport with cash

 

[MooTime]

Cash surcharge here, no cash surge here!

 

[Cruiser Elite]

Airlines get around it by offering direct deposit (poli?) or whatever.

Onboard?

 

[MEL_Traveller]

Onboard?

True!

 

[HMcM]

I think you might need to get out in the real world ASAP my friend - cash payment on airlines? Cash payment at major sporting venues? And that is just to start?

Airlines have absolutely been taking the piss when it comes to payment surcharges with saying you can go to the airport and pay cash to avoid it. I would have no issue with going after them.

As for being at a major sporting event, if they advertise a price and you cannot pay cash, it's illegal for them not to offer a surcharge free method of payment.

How about we actually swing the hammer of the existing law instead of replacing it with a far worse one?

 

[Cruiser Elite]

How about you go to the MCG on Saturday afternoon and demand they accept your cash? Please report back with results ASAP