The Reserve Bank of Australia (RBA) has announced that surcharges for debit, credit, and prepaid will be scrapped beginning October 1.

This will likewise apply to card networks, including eftpos, Mastercard and Visa.

RBA to Remove Surcharges

According to a report by Sky News, RBA believes that the surcharge framework is "no longer achieving its intended purpose of steering consumers towards making more efficient payment choices."

RBA........

© International Business Times