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ARTICLE · 07 SEPTEMBER 2017

Surcharging forward - excessive payment prohibited

Merchants (other than the taxi industry) are prohibited from charging excessive surcharges for accepting Card payments.

AustraliaConsumer Protection

All Australian merchants (other than the taxi industry) are now prohibited from charging excessive surcharges for accepting certain payment methods.

While 'large' merchants became subject to the Reserve Bank of Australia's Standard No 3 Scheme Rules Relating to Merchant Pricing for Credit, Debit and Prepaid Card Transactions (the Standard) on 1 September 2016, from 1 September 2017 all merchants that accept payment by a card which is part of the Visa Debit, Visa Prepaid, Debit Mastercard, Mastercard Prepayment, Eftpos System, Eftpos prepaid or American Express Companion Card schemes (a Card Scheme and a card which is subject to a Card Scheme a Card) became subject to the Standard.

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