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News
RBA surcharge cuts and the ramifications for the card giants
5+ mon, 1+ week ago (283+ words) RBA’s surcharge ban strips away industry excuses and forces banks and small business to confront costs, all as payment behemoth Mastercard faces a defining showdown with the ACCC. Expert news and commentary, accessible anytime on web & app. Swipe through the…...
RBA bans surcharging, travel costs to rise
5+ mon, 1+ week ago (228+ words) The Reserve Bank of Australia (RBA) has announced a ban on surcharging for debit and credit card transactions, effective from 1 October 2026. This decision, according to the Australian Travel Industry Association (ATIA), will lead to increased travel costs for Australians and…...
Frequent flyers face points pain as RBA cuts credit card surcharge
5+ mon, 1+ week ago (85+ words) Qantas and Virgin frequent flyers face points pain as RBA cuts credit card surcharge AFR Frequent flyers will see fewer bonus offers and earn points more slowly after the Reserve Bank of Australia said it would restrict the fees banks…...
RBA credit and debit card surcharge ban to push up fees and rates
5+ mon, 1+ week ago (119+ words) The changes will come into effect in October after months of discussions with major banks, which are worried about a $660 million hit to their revenue. Credit card customers risk being slugged with higher fees and interest rates by the major…...
Fed report stirs debit fee debate
8+ mon, 2+ week ago (881+ words) The Federal Reserve on Friday issued a report detailing data on debit card transactions, including fees imposed on merchants by bank card issuers and card networks when consumers swipe the cards to pay for a purchase. Interchange fees charged across…...
Kraken Launches Bitcoin Rewards Debit Mastercard Ahead of Planned IPO
9+ mon, 2+ week ago (506+ words) Kraken is rolling out a Bitcoin rewards debit card powered by the Mastercard network to its European Union and UK-based users, the firm announced on Tuesday. The Krak Card, which takes its name from the crypto exchange’s peer-to-peer payments app…...
Martin Lewis urges anyone in their debit card overdraft to make easy switch
9+ mon, 3+ week ago (623+ words) Open up your wallet and you’ve most likely got a well-worn debit card in there that you use for everyday spending. Credit cards on the other hand tend to be reserved for big budget items: holidays, a new TV or,…...
A Deal Looks No Closer In Merchants’ Long-Running Legal Battle Over Acceptance Fees
10+ mon, 2+ day ago (289+ words) The latest offer comes more than a year after the networks’ initial offer to settle the suit was rejected by Judge Margo Brodie in June 2024. Merchant opposition to the expected settlement offer is driven by the networks’ failure to create…...