Central Banking

RBA ends 'excessive' card surcharges

A woman making a credit card payment

The Reserve Bank of Australia (RBA) today (June 12) published its final reforms to the system of allowing merchants to set surcharges for credit and debit card payments. The setting of levies will be limited as of January 2013.

"In recent years, concern has been expressed to the Bank that some merchants may be using surcharging as an additional means of generating revenue, rather than simply covering the costs of card acceptance," said the document.

The central bank explained that the use of so

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