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·
    23 hours ago

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

    • shirro@aussie.zoneEnglish
      2·
      3 hours 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 hour 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.