NO MORE Merchant Fee Charges

[Cruiser Elite]

Got your attention didn’t it - everybody’s thoughts on upcoming election - what are your thoughts if either Labour or Liberal adopted a policy stance where apon election they would imm legislate to BAN imposition of ANY Merchant Fee to CONSUMERS for CC or DC transactions?

Consumers would love it - business maybe not - would it be a winner for either party? Would either party risk taking it to an election?

 

[kpc]

Tease!

 

[mrsterryn]

I was about to grump. Yesterday I booked a flight to Hawaii and cringed at the extra fee over and above my flight

 

[get me outta here]

Fuggedaboudit.

 

[JohnK]

Yes please.

 

[opusman]

Got your attention didn’t it - everybody’s thoughts on upcoming election - what are your thoughts if either Labour or Liberal adopted a policy stance where apon election they would imm legislate to BAN imposition of ANY Merchant Fee for CC or DC transactions?

I'm confused - don't you like earning FF points from your credit cards?

 

[Pleb Status]

It has been demonstrated previously that an advertising budget of $30M is enough to change a Government (Mining tax).

That amount is petty cash to the banks, so neither party would have the balls to take them on directly...

 

[Cruiser Elite]

I'm confused - don't you like earning FF points from your credit cards?

It’s not about me - it’s about Joe Public - I have never and will never levy our customers Merch Fee - cost of business to me

 

[Pleb Status]

I'm confused - don't you like earning FF points from your credit cards?

The vast majority would be better off if all surcharges were banned, even if that resulted in the loss of FF points earn.

 

[dajop]

What we want is not ban in Merchant Fees, but ban them being passed on to consumers, right? Or alternatively, if businesses want to pass on merchant fees, they should also pass on the cost of cash handling as well (security, bank charges, etc).

 

[Cruiser Elite]

What we want is not ban in Merchant Fees, but ban them being passed on to consumers, right? Or alternatively, if businesses want to pass on merchant fees, they should also pass on the cost of cash handling as well (security, bank charges, etc).

Original post updated - yes Fee CANNOT be passed on to CONSUMERS - sorry for confusing you

 

[Must...Fly!]

I'm wary of government getting involved in this.

Think of a small business e.g. a cafe.

Directly competing with the likes of McDonald's, Starbucks, Gloria Jeans, 7-11, etc etc.

All those are multi-million or billion dollar companies that could absorb a 0.5% hit to the bottom line if required for a long time. The small business owner, however, might really struggle to absorb those costs as they probably pay a significantly higher merchant fee to start with, let alone their ability to absorb the cost as part of day to day operation.

 

[Jeffrey O'Neill]

it would be interesting to see what the true cost of each payment type is.

is it fair for the cheapest form of payment to subsidise the more expensive ones?

that would also mean only charging the difference between the cheapest and preferred payment method.

 

[moa999]

Prices up 2%.
3% discount for cash...

Or in the case of youth focused stores.
Prices up 5%
3% discount for credit cards
7% discount for cash
(Afterpay and Zip cost the merchants even more than credit cards)

 

[JohnK]

Prices up 2%.
3% discount for cash...

The list of businesses not accepting cash is increasing.

 

[dajop]

For some businesses the cost of accepting credits, or indeed any form of payment with an electronic record is probably in the order of 30%.

Which is why it was a dumb idea by the government to allow surcharges that incentivise people to pay cash.