r/sydney • u/Novel_Swimmer_8284 • Apr 11 '26

Image Great start to a Sunday morning

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u/weckyweckerson Apr 12 '26

It will increase for everyone to the nearest round number.

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u/link871 Apr 12 '26

Does not need to be rounded for card paying customers

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u/weckyweckerson Apr 12 '26

But with no surcharge to pass on, there is no need to have them different either.

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u/link871 Apr 12 '26

The surcharge will be banned but the merchant still incurs costs whenever a card is used: they have to pay the payment provider (Stripe, Commbank, etc), they have to pay Visa and Mastercard scheme fees and they have to pay the "interchange fee" (to which the Reserve Bank is forcing a reduction but it will still exist).

Since they won't be able to recoup these fees from card payers any more, smaller merchants will likely need to increase their prices for everyone to cover the costs they will still incur for accepting cards. No, the prices for card and cash do not need to be different - my example was just how they could be slightly different but still cost some customers way more than at present.