Debit and credit card surcharges to be removed in Australia by October

Treasurer Jim Chalmers said the changes would help with the cost of living and that ‘Australians hate paying’ the surcharges Debit and credit card surcharges will be gone by October under Reserve Bank reforms, with big banks likely to foot the bill for the cost-of-living measures. The new rules, announced on Tuesday, will enable businesses to remove added…

Key takeaways

Quick scan — what you need to know:

• Treasurer Jim Chalmers said the changes would help with the cost of living and that ‘Australians hate paying’ the surcharges Debit and credit card surcharges will be gone by October under Reserve…
• The new rules, announced on Tuesday, will enable businesses to remove added fees on Mastercard, visa and eftpos card payments.
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Background

What led here, in plain terms:

• The new rules, announced on Tuesday, will enable businesses to remove added fees on Mastercard, visa and eftpos card payments.
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Why it matters

Why readers and decision-makers should care:

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• Treasurer Jim Chalmers said the changes would help with the cost of living and that ‘Australians hate paying’ the surcharges Debit and credit card surcharges will be gone by October under Reserve…
• The new rules, announced on Tuesday, will enable businesses to remove added fees on Mastercard, visa and eftpos card payments.