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.

  • Salvo@aussie.zoneEnglish
    1·
    1 day ago

    EFTPOS and OSKO are semi-public payment methods (sponsored by the banks).

    I have now configured ApplePay to use EFTPOS rather than VISA on my debit card, where possible.

    I already pay my masseuse with OSKO because she prefers it to cash, and there are no fees.

    I will still use Credit Cards for online purchases because; Online stores only accept VISA/MasterCard (and sometimes AMEX) and the Consumer Protections provided by the Scumsuckers are actually quite good.