Banning Surcharges only Solves a Political Problem for the RBA

Banning surcharges only solves a political problem for the RBA

Small business would not need to charge their customers if major banks and credit card companies just set reasonable fees for credit card use.

UBS sees impact on Aussie banks of proposed card payment surcharges removal as 'manageable'

UBS analysts anticipate that the Australian banks will likely respond over time to the card surcharges removal by raising cardholder fees, reducing rewards on credit cards, and potentially increasing interest rates

If the RBA proposal holds, small businesses lose

The post If the RBA proposal holds, small businesses lose first appeared on Australian Newsagency Blog.

Card surcharges to go, but what’s the catch?

Plans to scrap card surcharges are facing resistance from small businesses, who say they will bear the cost.

Credit card proposal would hurt small businesses, consumers

Jordan Karweik: The change would mean cutbacks to the rewards programs as it would strip banks and credit unions of the revenue they use to fund these programs.