The Reserve Bank may be compelled to follow the UK and Europe and ban credit and debit card payment surcharges, as the billions of dollars in fees paid by Australians each year attracts closer political scrutiny.

Labor MP Jerome Laxale, who represents the north-west Sydney electorate of Bennelong, told federal parliament this week that banks and global card networks were enjoying “kickbacks” from the “rort” of costs being pushed onto customers who paid with a card.