RBA says it's to lower caps on interchange fees paid by Australian businesses and changes to domestic card transactions are to take effect from October 1st
Importance
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- RBA said it will ban card surcharges on EFTPOS, Mastercard and Visa, and that the sticker price will be the final price paid.
- RBA said it will cut interchange fee caps, while foreign card caps will be effective April 1, 2027.
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