That extra 10c on your morning coffee. That $2 surcharge on your taxi ride. The sneaky 1.5% fee when you pay by card at your local restaurant. These could all soon be history.
The Reserve Bank of Australia (RBA) has proposed a sweeping reform: abolishing card payment surcharges. The central bank says it’s in the public interest to scrap the system and estimates consumers could collectively save $1.2 billion annually.
But like all major financial reforms, the devil is in the detail.
