Fees

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Fees charged by card schemes under increased regulatory scrutiny around the world
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Fees charged by card schemes under increased regulatory scrutiny around the world

The giants of the payment card industry, Visa and Mastercard are under an intensifying spotlight in a range of jurisdictions, including the UK, EU and Australia, with a key focus on the opaque scheme fees these companies dictate to banks and merchants. At least 80% of these fees are borne by merchants.

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Get some rest during the holidays because 2025 will be a big year for payments
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Get some rest during the holidays because 2025 will be a big year for payments

Some well-earned rest may be needed for payments industry executives and policy boffins over the holidays, before they face a very busy 2025.

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Westpac backs scheme fee cap and dissecting blended pricing
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Westpac backs scheme fee cap and dissecting blended pricing

Westpac has taken aim at the “complex” fees charged by card schemes like Visa and Mastercard, as well as controversial “blended” pricing plans imposed on many small businesses, in a comprehensive response to the Reserve Bank of Australia’s inquiry into merchant fees and surcharging.

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CBA slammed for new cash withdrawal fee at branches and post offices
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CBA slammed for new cash withdrawal fee at branches and post offices

The Assistant Treasurer has lashed out at the Commonwealth Bank’s decision to charge some customers $3 for withdrawing cash at its branches and post offices or over the phone.