Card surcharge ban used as ‘cover’ for larger price increases by Australian businesses, experts say
‘Round-up’ pricing in items such as coffee suggests increases are exceeding the typical 1.5% surcharge fee Follow our Australia politics live blog for latest updates Get our breaking news email , free app or daily news podcast Businesses are using the recent ban on credit card surcharges as “cover” to pass along much larger price increases to customers, experts say, as cafes and restaurants…
Experts say businesses are using the recent ban on credit card surcharges as "cover" to pass much larger price increases to customers. As cafes and restaurants deal with rising interest rates and climbing costs, some use "round-up" pricing on items like coffee, which suggests price hikes are exceeding the typical 1.5% surcharge fee.
The ban on credit card surcharges, which usually account for approximately 1.5% of a transaction, went into effect on 1 October. This change was part of a reform led by the Reserve Bank intended to increase transparency for customers and lower bank fees.
Brief written by urgent.news from The Guardian Australia, The Guardian — 2 reports on this story. Machine-written — may contain errors; check the original before relying on it.
