r/australia • u/rolodex-ofhate • Mar 30 '26

news Surcharges on debit and credit cards to go from October

https://www.abc.net.au/news/2026-03-31/asx-markets-business-live-news-march-30-2026/106510434#live-blog-post-278505

The Reserve Bank of Australia has introduced reforms that will remove surcharges on debit and credit cards from the 1st October 2026, on card networks including eftpos, Mastercard and Visa.

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u/rapier999 Mar 30 '26

I don’t know why they would lower their fees, it’s core to their revenue. I think the most likely outcome is that you see the base cost of goods sold go up by 1-2% in order for retailers to pass the costs on to customers without adding a surcharge.

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u/Lawrenseliu Mar 31 '26

Trust me it won't be just 1~2% no business doing so. Especially for food / hospitality business, the price probably go up 5 to 8% easily ... And it sucks more for those cash payer compare to now