Economic experts say that the government’s plans to ban surcharges imposed on debit cards will be unfair to people who use cash to pay for goods and services.
Recent estimates have revealed that Australian store owners pay around $1.5 billion in debit and credit card surcharges each year.
The Australian Financial Review reports that the government is expected to introduce plans to ban debit card surcharges, targeting businesses that charge high fees.
A pro-cash advocate has argued that government plan to outlaw debit card surcharges will unfairly impact people who use cash to pay for goods and services.
The Albanese Government is expected to outline plans today to ban debit card surcharges and more funding for the competition watchdog to target businesses charging excessive fees, the Australian Financial Review reports.
Credit card surcharges will not be included in the move.
The Reserve Bank of Australia is also set to launch a review today of payment costs for retailers.
The ban could be introduced from the start of January 2026, subject to consultation with the RBA.
