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The hidden cost of Australia’s card surcharge ban for small business
['Natalie Lennon', 'David Adams', 'Rebel Wylie']
SmartCompany
Australia’s card surcharge ban takes effect on October 1 but the cost of processing payments isn’t going away.
Someone still has to payRight now, if you run a small business and a customer pays with a card, you pay a merchant service fee on that transaction.
Your flat white is $5.00; you currently add a 1.5% card surcharge, so a customer tapping their phone pays $5.08.
Each person pays for the cost their payment method creates, which is fair enough.
Most small business owners have never looked at this number properly.