Simon Birmingham, the new Chief Executive Officer of the Australian Banking Association (ABA), says Australia should move quickly to ban card surcharges but proceed carefully on interchange fees to avoid giving multinational tech companies a windfall. Concerns Over Interchange FeesAt the same time, Birmingham warned against further cuts to interchange fees — charges paid between banks for card transactions. “While many consumers find mobile and card payments faster and more convenient, a growing group consciously choose cash for privacy, control, or access reasons,” he said. Balancing ReformThe ABA is urging government and the RBA to quickly implement a surcharge ban, while adopting a cautious, phased approach to interchange reforms. With digital transformation reshaping payments, Birmingham said the goal must be to balance innovation, fairness, and accessibility.