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.
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.