Card payment sucharges banned in Australia from 2026

[Ansett Nostalgic]

This RBA Governor should be fired.

 

[albyd]

It’s one thing to ban surcharging, it’s another matter to reduce interchange to where it can’t fund reward programs which is why they’re going away.

 

[CaptJCool]

If the interchange fees are indeed “funding” rewards programmes then that tells you they are overpriced.

That said, when I got sent my Platinum card, I didn’t realise at the time that meant the merchant fees charged by the provider were “doubled”

So it’s not always obvious who’s profit gouging out of the system. But it sure ain’t a case of covering the “cost of acceptance”. If we were to start that argument, then cash banknotes would need to incur a “cost of acceptance” as that’s not a “free” service to the banking system. Rather it’s a service where the fees are “covered by the provider”