Percentage cost of acceptance in their annual statement for that card type. Merchants are able to surcharge any of the cards covered by the RBA's standard up to the average Merchant service fees, terminal fees, and any other fees incurred in processing card transactions. What they are charged for payments by their acquirer or payment facilitator this includes costs such as It is likely that most merchants who decide to surcharge debit or credit cards will do so based purely on Under the framework a merchant whoĭecides to surcharge a particular type of card may not surcharge above their average cost of acceptance Merchants are permitted to surcharge, but are not required to do so. What can I do if I believe I have been asked to pay an excessive surcharge? General, smaller merchants face higher payment costs than larger merchants and may have higher costs than And it isĬommon for merchants to pay 1 to 1½ per cent for an American Express card payment. Mastercard and Visa credit may cost many merchants more than ¾ per cent. Debit Mastercard and Visa Debit may cost many merchantsĪround ½ per cent, though for some merchants the cost of these cards is combined with creditĬard costs. Guide, payments through the domestic eftpos system are usually quite low cost for merchants, aroundĠ.3 per cent of the transaction value. Merchants of different sizes and in different industries have a wide range of payment costs. The standard defines the cost of acceptance and includes transparency measures toĮnsure merchants have clear information on the payment costs they face. The permitted surcharge specified in the RBA While merchants are allowed to impose cost-based surcharges on card payments, surcharges must not exceed Required to set the surcharge at the lowest cost of those different payment methods.
all credit cards fromĪmerican Express, Mastercard and Visa or both debit and credit cards from a particular system) they are If merchants wish to surcharge two or more payment methods at the same rate (e.g.
In the airline industry – will generally do so in percentage terms rather than as a fixed dollar This should ensure that merchants who wish to surcharge – including These statements will express acceptance costs in percentage terms and the standard defines the cost ofĪcceptance in percentage terms.
Provider these must contain easy-to-understand information on the average cost of acceptance for each Merchants will know how much that is from statements supplied by their bank or payments It is important that merchants do not impose surcharges in excess of their actual For example, debit cards are typically less expensive for merchants to accept Surcharges must not be more than the amount that it costs a merchant to accept a particular type of cardįor a given transaction. Disclosures on Retail Payments Service Reliability.Approvals under the Payment Systems and Netting Act 1998.New Payments Platform Functionality and Access: Consultation.2015-16 Review of Card Payments Regulation.2011/13 Strategic Review of Innovation in the Payments System.Declarations and Exemptions for Purchased Payment Facilities.Strategic Priorities for Payments Policy.
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