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Australia’s Reserve Bank is using claims that online merchants are gouging consumers as an excuse to announce new plans to limit ‘surcharging’ on credit-card transactions. “…[The incidence of surcharging is much higher for online purchases than those made in person” said the RBA in a new discussion paper – ‘Review of Card Surcharging: A consultation Click on the title to read more Online merchants rorting card surcharges says Reserve Bank of Australia Australian newsagents lost heavily out of the deal struck by their industry association with the failed Biller Express service. And that may partly explain why the Australian Newsagents Federation (ANF) has spoken out so strongly against the new fee structure announced by EFTPOS Australia Limited recently. According to the ANF’s chief executive officer, Alf Maccioni, Click on the title to read more Newsagents claim new EFTPOS fees a tax on consumers and small business Australia’s largest retailer has new rules for accepting Visa and MasterCard debit cards in its stores. Tom Pockett, Woolworths Limited’s finance director, said that, as from 15th of April, customers wanting to pay with a scheme debit card will have to press either the cheque or savings button on the EFTPOS terminal and key in Click on the title to read more Woolies restricts acceptance of Visa, MasterCard Debit Proposed new Reserve Bank of Australia (RBA) rules could help Australia’s EFTPOS system regain lost ground from Visa and Mastercard. The new rules are intended to see the same system of regulatory standards applying to both EFTPOS and scheme debit cards. Australian banks will be able to earn the same wholesale fees on EFTPOS card Click on the title to read more RBA proposes new deal for wholesale EFTPOS fees |
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