From 1 October 2026, card payment surcharges on EFTPOS, Mastercard and Visa transactions will be banned across Australia following today’s announcement by the Reserve Bank of Australia.
The RBA has also reduced the interchange fee cap on consumer credit cards from 0.8 per cent to 0.3 per cent, which will lower processing costs for operators. But the reality is that card payment costs do not disappear under this reform. For most hospitality businesses, these costs will now need to be built into menu pricing.
R&CA National President John Hart OAM has responded on behalf of the sector, calling on Government and payment providers to ensure operators are genuinely supported through the transition.
