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  • 5 hours ago
The Reserve Bank will ban surcharge fees for EFTPOS, Mastercard and Visa transactions. Video via AAP

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00:00Small businesses will save $910 million a year when credit and debit card surcharging
00:06ends in October. These changes will help take some of the pressures off consumers and businesses
00:14and help with the cost of living. We've made it really clear for some time now that people
00:19shouldn't be punished for using a credit or a debit card. Australians hate paying these charges,
00:25let's be blunt about it, and the Reserve Bank has done quite a bit of work here. They are responsible
00:34for the system that is being changed here. They have the ability to make these changes
00:40without the parliament legislating them. They are the appropriate place for these changes to be
00:47determined and implemented.
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