30 September 2026
Australians are set to enjoy more pricing certainty at the checkout as credit and debit
card surcharges are removed from tomorrow.
The Reserve Bank of Australia’s (RBA) card surcharge reforms which take effect from
tomorrow will mean:
- businesses will no longer be permitted to add a surcharge when customers pay
with eftpos, Visa or Mastercard. - lower domestic interchange fee caps (portion of card payment costs that flows
to the customer’s bank) will apply from 1 October 2026 and new interchange
caps for foreign-issued cards from 1 April 2027. - increased transparency to help businesses better understand and compare
payment costs.
ABA CEO Simon Birmingham said the changes removed a common bugbear for
consumers, who will no longer face an extra fee just for choosing to pay by card.
“From tomorrow, the price on the shelf or on the menu will be the price you pay at the
checkout. That goes for paying a bill or shopping online too,” Mr Birmingham said.
“Whether it’s paying the plumber or buying a coffee, you will no longer be hit with an
extra few cents or dollars for tapping your card.”
Mr Birmingham also said the fees banks receive on card payments were coming down
from tomorrow, as the RBA’s new interchange caps take effect.
“The Reserve Bank expects these reductions to deliver around $660 million a year in
lower payment costs for businesses, including many who have not surcharged,” Mr
Birmingham said.
“Bank card fees are capped and from tomorrow fall to among the lowest in the world,
helping drive down card acceptance costs for small businesses.
“The RBA expects these lower costs to flow through to merchants. If small businesses
do not see reductions in their overall card payment costs, it will be because other
players in the payments system – including card schemes and payment service
providers – have absorbed the savings rather than passing them on.
“Banks have called for the RBA to act on other card fees, while assisting business
customers in the lead-up to the surcharging ban. That support won’t stop tomorrow. If
you run a business and still have questions, have a chat to your bank.”
For more information refer to the RBA’s frequent asked questions on the removal of
payment surcharges.
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