RBA to remove surcharges on debit, credit cards and card networks
www.abc.net.au
The removal of surcharges on debit and credit cards is one of the sweeping reforms from the Reserve Bank.

From summary:

In short:

The RBA will remove surcharges on debit and credit cards, saving consumers and businesses about $1.8 billion each year.

The package of reforms also includes lowering the caps on interchange fees paid by Australian businesses, with a focus on small businesses currently paying the highest fees.

What’s next?

Most of the reforms are due to take effect from October this year.

  • shirro@aussie.zoneEnglish
    6·
    5 days ago

    Why can’t we make card payments without Visa in Australia? We need to ditch these foreign companies and develop our own or co-operate with peer countries. I ditched Paypal and Amazon but I still have to donate to Visa every time I buy a pie.

    • Salvo@aussie.zoneEnglish
      1·
      2 days ago

      EFTPOS and OSKO. The problem is that some modern payment processors don’t accept them.

      • shirro@aussie.zoneEnglish
        2·
        1 day ago

        I pay my internet with PayiID. Also use BPay. Osko. A lot of ecommerce is restricted to US platforms. I would prefer to make NFC payments with EFTPOS but haven’t worked out a way to do it. Might have to research.

        • Salvo@aussie.zoneEnglish
          1·
          1 day ago

          Apple Wallet lets me choose VISA or EFTPOS on one of my debit cards. It works with my watch and also my phone. I assume GooglePay would also has this feature.

          My other debit cards don’t have this option.

          • shirro@aussie.zoneEnglish
            2·
            11 hours ago

            I do not want to buy American phones, particularly Apple. I want to go back to card over phone. It isn’t really any less convenient to carry a sliver of plastic. My end game for mobile is degoogled android or Linux where I won’t have access to banking.

            I think least cost routing is supposed to be available for traders or they can set their terminals to prefer EFTPOS. I think I read that some banks let you set a preference on the card but mine does not have anything in the app. I might need to contact them.