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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…...
RBA SURCHARGE BAN: BAD FOR BUSINESS AND CONSUMERS
5+ mon, 1+ week ago (850+ words) Australia’s Reserve Bank has ruled on the future of surcharges, deciding to end the practise on card payments from 1 October, in what is described as a “political fix” for the problems facing businesses. For years consumers opting to use their…...
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…...
Australia Bans Card Payment Surcharges Starting October 2025
5+ mon, 1+ week ago (516+ words) BoE Holds Rates at 3.75% as Middle East Energy Shocks Stall Disinflation WTO Ministerial Collapse Leaves Global Digital Trade Rules in Limbo Bank of Japan Signals Rate Flexibility Amid Yen Volatility Bank of Japan Faces Rate Uncertainty Amid Middle East Oil…...
Australian central bank bans card surcharges to save $1.6B
5+ mon, 1+ week ago (244+ words) The Reserve Bank of Australia announced a landmark ban on card surcharging effective Oct. 1, a sweeping reform designed to eliminate roughly $1.6 billion in annual fees currently slugged to consumers. In a policy decision handed down on March 31, RBA Governor Michelle…...
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…...
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…...