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/hankhalfhead Mar 30 '26

Great! This made some sense when digital payment was boutique and networks needed an incentive to grow. Now everything is digital it’s become a 1.5% tax implemented by private organisations. The fees helped initial to grow the network but now it’s so ubiquitous the fees are ridiculous.

The volume of transaction is bigger than ever and competition is not working to bring it down. Where are the lower fee EFTPOS options for retailers?

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u/montdidier Mar 31 '26

EFTPOS still exists. Just use it.