Susie O’Brien reports that major retailers in Australia are not planning to impose surcharges on credit card usage — at least not right away.
Until now, the cost of processing credit card transactions has been met by retailers and businesses, but from tomorrow this cost can be passed directly to the consumer. Many businesses were adamant yesterday that they would not take this step unless forced to do so by spiralling costs. Others said they would investigate the move if it became a norm in their industry.
The Australian Retailers Association said services such as gyms, doctors and dentists, tradespeople and professional groups were the most likely to introduce the charge. Association executive officer Brian Donegan said the pressure was also great on small retailers who paid banks up to 3 per cent of their turnover on credit charges.