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Excessive payment surcharge ban - effective from 1 September
From the 1st of September 2017, every business across Australia is banned from charging customers excessive surcharges for using certain types of EFTPOS, MasterCard, Visa and American Express cards to make payment.
The Motor Trades Association of Queensland (MTA Queensland) encourages members to stay up to date and be familiar with the Australian Competition & Consumer Commission (ACCC) to ensure compliance is met.
The ban restricts the amount a business can charge customers for using EFTPOS to the amount it actually cost to process card payments, including bank fees and terminal costs. The only costs businesses small and large can now include are external costs charged by financial providers.
For further information CLICK HERE.