Episode Details

The Reserve Bank of Australia is ending surcharges on debit, prepaid, and credit card payments for eftpos, Mastercard, and Visa networks, effective October 1, 2026. This change aims to simplify payments as cash declines. The bank found that the old rules, which required businesses to charge the same fee on every card, were no longer effective. Consumers prefer transparent pricing, and this shift will boost competition among payment providers and ease the burden on businesses. The bank is also reducing caps on interchange fees, which will benefit small businesses the most. A consultation on mobile wallets, buy now pay later services, and e-commerce is planned for mid-year.

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