‘Opaque and complicated’ card surcharges are costing Australians billions. Is an overhaul needed?

Consumers are the big losers in a world where top retailers get ‘sweetheart deals’ while small businesses get confused, advocates say

Debit cards have long been promoted as a replacement to cash.

But a complicated system of opaque fee charges has created a multi-billion-dollar revenue opportunity for the payments sector and left many consumers paying too much.

Continue reading…
Consumers are the big losers in a world where top retailers get ‘sweetheart deals’ while small businesses get confused, advocates say
Get our breaking news email, free app or daily news podcast

Debit cards have long been promoted as a replacement to cash.
But a complicated system of opaque fee charges has created a multi-billion-dollar revenue opportunity for the payments sector and left many consumers paying too much. Continue reading…Technology | The Guardian

Leave a Comment

Your email address will not be published. Required fields are marked *