In short:

The RBA will remove surcharges on debit and credit cards, saving consumers and businesses about $1.8 billion each year.

The package of reforms also includes lowering the caps on interchange fees paid by Australian businesses, with a focus on small businesses currently paying the highest fees.

What's next?

Most of the reforms are due to take effect from October this year.

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[-] Salvo@aussie.zone 1 points 3 days ago

Apple Wallet lets me choose VISA or EFTPOS on one of my debit cards. It works with my watch and also my phone. I assume GooglePay would also has this feature.

My other debit cards don’t have this option.

[-] shirro@aussie.zone 2 points 2 days ago

I do not want to buy American phones, particularly Apple. I want to go back to card over phone. It isn't really any less convenient to carry a sliver of plastic. My end game for mobile is degoogled android or Linux where I won't have access to banking.

I think least cost routing is supposed to be available for traders or they can set their terminals to prefer EFTPOS. I think I read that some banks let you set a preference on the card but mine does not have anything in the app. I might need to contact them.

this post was submitted on 31 Mar 2026

50 points (98.1% liked)

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