Australians are losing nearly a billion dollars a year in card surcharges, which could be substantially reduced when a system called least-cost routing is fully implemented.

Unlike in the UK and the European Union where card surcharges are banned, retailers in Australia are allowed to recoup their payment costs through surcharging their customers, as long as they are not making a profit out of it.

  • Che Banana@beehaw.org
    1·
    4 months ago

    Still have to do both, so if the bank is taking a cut, then I’m going to at least get a minimum sale out of the deal.