Australians lose nearly $1 billion a year to card surcharges as RBA warns banks to stop
Australians lose nearly $1 billion a year to card surcharges as RBA warns banks to stop
Australians are losing nearly a billion dollars a year in card surcharges, which could be substantially reduced when a system called least-cost routing is fully implemented.
Unlike in the UK and the European Union where card surcharges are banned, retailers in Australia are allowed to recoup their payment costs through surcharging their customers, as long as they are not making a profit out of it.
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i dont get why it's a percentage... the database on the server thats on whether transactions are happening or not, the always on internet connection, doesnt cost more because i bought a pastry with my coffee today.. what the!?