Reserve Bank of Australia says surcharge ban will benefit consumers with more transparent card pricing

The Reserve Bank of Australia’s head of payments has defended the surcharge ban on cards, saying consumers will benefit by paying the advertised price on goods and services.

In his first public appearance since the ban came into force at the start of the month, Ellis Connolly said greater “price transparency” on transactions was a major benefit of the change that affected the approximately 75 per cent of consumer payments made using a card.

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