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.

  • kowcop@aussie.zoneEnglish
    6·
    4 months ago

    so split across the big 4, say $250m each and $5-10b in profit each… they can afford to stop