Kristy McBain wants small businesses spared card machine charges
The RBA estimates Australians paid around $1.6 billion a year in card surcharges before the change.
A surcharge is an extra fee charged to customers for paying by bank card. The Reserve Bank of Australia, under pressure from the Albanese government, recently banned bank card surcharges.
The RBA estimates Australians paid around $1.6 billion a year in card surcharges before the change. The ban on card surcharges has left businesses to cover the costs of card payment terminals and machines.
Labor minister Kristy McBain said the RBA made the right call but should have gone further for small businesses. She wants the RBA to rule out charging small businesses for point of sale machines.
One Nation MP Barnaby Joyce said the Albanese government should have thought about unintended consequences before pressuring the RBA. Small businesses have launched a media campaign with TV ads and billboards outside Canberra Airport.
- About $1.6bn a year
- Card surcharges before the change
- Kristy McBain
- Labor minister
- Barnaby Joyce
- One Nation MP
- TV ads and billboards
- Campaign format
Why it mattersIt is a fight over who pays for card machines, and small businesses say the cost falls on them.
AustraliaShoppers who pay by card and small business owners are both affected. The Reserve Bank has the final say on who pays.
Corroborated by7news.com.au
✓ Claims checked against the source. checked 2 h ago
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