Posts tagged "transaction fee"

The Reserve Bank of Australia has given breathing room to the major banks and payment service providers failing to promote least-cost routing among merchants, saying they have until June 2024 to boost merchant uptake before facing a regulatory crackdown.

Australia's smallest businesses are saddled with card transaction fees triple that applied to major corporations and the take-up of cheaper options remains "disappointingly low", according to the Reserve Bank of Australia.

There is no 'admin fee', 'convenience fee', 'transaction fee' or any other name you want to give it, that isn’t a customer annoyance felony.