Australian businesses raise prices after card surcharge ban
Australian businesses have increased prices following the implementation of a new card surcharge ban. Owners argue the change increases operational costs, offsetting government claims of consumer savings.
Businesses across Australia raised prices on October 1 as a ban on card surcharges took effect, challenging government claims that eliminating fees would lower living costs. The central bank abolished surcharges ranging from 0.5% to 1.5% for credit and debit card transactions. Canberra argued the shift would save consumers A$1.6 billion annually.
