Tag: surcharge

  • How the card surcharge ban could change our relationship with cash | ‘Year from hell’: Small …

    How the card surcharge ban could change our relationship with cash | ‘Year from hell’: Small …

    Explore the latest developments concerning How the card.

    How the card surcharge ban could change our relationship with cash

    Some small businesses may start offering discounts for cash payments after the card surcharge ban.  (ABC News: Tristan Hooft)

    With the Reserve Bank of Australia's (RBA) ban on card surcharges now in effect you might start seeing local businesses offering discounts if you pay in cash.

    Cash payments in Australia are much less common than they were a decade ago, but the RBA's latest data showed a slight uptick in cash use in 2025.

    How could the ban on card surcharges impact how cash is used in Australia?

    This graph from the RBA's 2025 Consumer Payments Survey tracks the percentage of Australians who use cash in a typical week.

    Minister breaks ranks, calls for banks to absorb card surcharge pain

    A Labor frontbencher has urged the Reserve Bank of Australia to pressure banks to absorb the cost of the government’s card surcharge ban as it once again attempts to clean up the political mess caused by the change.

    The ban, which was touted to save Australians about $1.6 billion a year, came into effect on October 1.

    Kristy McBain says banks should absorb the costs associated with the government’s surcharge ban. Audrey Richardson

    But despite the overhaul including a new cap on interchange fees in an attempt to prevent sellers from being left worse off by the changes, many businesses and other organisations have either increased customer prices or banned credit card payments to cover higher costs associated with the new system.

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    The dynamic landscape of current events often brings forth significant discussions. Monitoring these developments provides crucial insights.

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  • RBA surcharge cuts and the ramifications for the card giants | Qantas and Virgin frequent flyers …

    RBA surcharge cuts and the ramifications for the card giants | Qantas and Virgin frequent flyers …

    Explore the latest developments concerning RBA surcharge cuts.

    Qantas and Virgin frequent flyers face points pain as RBA cuts credit card surcharge

    Frequent flyers will see fewer bonus offers and earn points more slowly after the Reserve Bank of Australia said it would restrict the fees banks could charge for credit card use, crimping their ability to pay airlines.

    Qantas Frequent Flyer and Virgin Australia’s Velocity programs have become intertwined over the past decade, with banks buying up points to pass on as they tried to entice customers to their own products.

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    Banning card surcharges will make paying simpler – but not necessarily cheaper

    The authors do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

    University of Technology Sydney provides funding as a founding partner of The Conversation AU.

    From October 1, 2026, Australians will no longer pay a fee for debit, prepaid and credit payments using eftpos, Mastercard and Visa cards. The Reserve Bank of Australia estimates the change could save consumers around A$1.6 billion a year.

    The case for change sounds simple enough: one price, no add-ons, no surprises at the end of a transaction.

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    The dynamic landscape of current events often brings forth significant discussions. Monitoring these developments provides crucial insights.

    For more detailed information, explore updates concerning RBA surcharge cuts.

    For more news…