Card surcharge ban used as ‘cover’ for larger price increases by Australian businesses, experts say

Experts suggest that some businesses are using the recent ban on credit card surcharges as cover to implement much larger price increases for customers. This trend is reportedly seen in cafes and restaurants as they attempt to manage rising interest rates and climbing costs.

The ban on credit card surcharges, which typically amount to about 1.5% of a transaction, went into effect on 1 October. According to The Guardian, this change was part of a reform led by the Reserve Bank intended to lower bank fees and improve transparency for consumers. The Guardian notes that "round-up" pricing on items such as coffee suggests that price increases may be exceeding the typical surcharge fee.

Brief written by urgent.news from The Guardian, The Guardian Australia — 2 reports on this story. Machine-written — may contain errors; check the original before relying on it.