Letters to the Editor
Contactless payments take the more expensive route
Readers’ letters on card payment fees; poor Westpac culture; engineering limits; Bill Shorten’s exit; Labor and productivity; and cartoonist David Rowe.
Key Points
- We are always interested to hear your views on current topics.
- Guidelines for how to write a letter to the editor are here.
- Please send your letter to edletters@afr.com.au
Regarding James Eyers’ article on retail payment fees (“Cards stacked with digital payment fees”), it may appear that the RBA’s dismantling in 2003 of the “no surcharge” rule is not driving down costs.
However, the truth is harder to uncover, given the number of rent-seekers and arcane pricing mechanisms of payment instruments and payment networks. An RBA report in December 2018 did not reveal excessive breaches of the regulations by business.
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