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, payments and fintech. He is a former legal and investment banking editor at the AFR, has degrees in commerce and law from UNSW, and is co-author of Buy now, pay later: The extraordinary story of Afterpay Connect with James on Twitter. Email James at jeyers@afr.com.au
