- PayDay News
- Topics
- Surcharging
Surcharging
Surcharging
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.
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.
ACCC weighs in on surcharging ... wait, what?
After only using its current powers to stop excessive card surcharging a handful of times since the rules were introduced in 2016, ACCC Chair, Gina Cass-Gottlieb, has described the issue as “complex” in the context of the Australian payments system.
Canberra coy on legality of its pricey debit card surcharges, after announcing merchant ban
Two weeks after the Albanese government vowed to crack down on merchant surcharges on debit cards, it won’t say whether Commonwealth departments and agencies are breaking the law by levying citizens with those same surcharges - some of which are among the highest fees for big merchants in market.
Governments across Australia scramble on surcharging after NSW unplugs “illegal” consumer fees
Scores of state and Federal government authorities across the country could have illegally surcharged Australians hundreds of millions of dollars to recoup merchant fees, following revelations that the New South Wales government has legal advice which indicates the practice is unlawful when applied to some government services.
