Fresh Perspective on Card Surcharge Ban: Here’s Why It Will Hurt some Businesses

Fresh perspective on card surcharge ban: Here’s why it will hurt some businesses

The Reserve Bank of Australia’s proposed ban on credit card surcharges could worsen inflation and force up prices for all consumers, the Australian Travel Industry Association (ATIA) warned. The RBA announced earlier this year it was looking to ban surcharges on eftpos, Mastercard and Visa cards, as well as lower the cap on interchange fees paid by businesses.  Businesses have expressed concern about absorbing the payment costs, which are roughl…

Surcharge ban to hike prices for all customers and stokes inflation, warns ATIA

The Reserve Bank’s proposed ban on credit card surcharges could worsen inflation and force up prices for all consumers, the ATIA warns.