Card payment sucharges banned in Australia from 2026

[MELso]

You don't find it odd then that they didn't canvass any policy options around capping merchant fees in their review last year?

They did. They indicated a preference for banning surcharges, and limiting interchange fees.

However, the legislation to regulate Amex etc hadn't passed Parliament at the time consultation kicked off so Amex's fees were not included. One thing at a time...

 

[Kremmen]

Why is this so hard in Australia? Is it our big 4 banks having so much power?

Surcharge bans have been enforced with 100% compliance in the UK and EU, so why can’t we do the same in Australia?

You have this backwards! When the banks controlled it, there were no surcharges. It's the Reserve Bank that forced banks to allow surcharging.

All the blame for this is on every Treasurer for the last 20+ years.

 

[Waddygib]

They did. They indicated a preference for banning surcharges, and limiting interchange fees.

However, the legislation to regulate Amex etc hadn't passed Parliament at the time consultation kicked off so Amex's fees were not included. One thing at a time...

Amex doesn't have interchange fees. That's my point - how do they implement it?

 

[MELso]

Amex doesn't have interchange fees. That's my point - how do they implement it?

By capping merchant fees that Amex charges. But this wasn't canvassed because legislation covering Amex hadn't yet passed.