Australian Competition and Consumer Commission chair Gina Cass-Gottlieb warned there are no legal grounds to stop payment providers blending the cost of credit and debit card transactions incurred by merchants into a single fee.
And passing this fee on to customers is not a breach of Australia’s surcharging rules.
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James Eyers writes on banking, finance, payments, regulation and emerging technologies. Based in Sydney, he is a former legal and investment banking editor at the AFR and has been a business journalist for more than 20 years. Email James at jeyers@afr.com.au
