Dear Valued Customer,
We have received several inquiries about renewing EFTPOS plans, and we are writing to provide strategic advice in light of the Reserve Bank of Australia's (RBA) proposed surcharging reforms. We recommend proceeding with caution before committing to any new or existing supplier.
The RBA is moving to ban surcharges on EFTPOS, Visa, and Mastercard payments, with the changes likely to be effective from July 2026.
Looking at these blended-rate surcharging plans currently being promoted by EFTPOS providers, we have big doubts about some of their claims. While these plans are often presented with attractive incentives, they may expose your business to higher-than-necessary fees once you can no longer pass on those costs to customers.
Warning: Before renewing your agreement, we strongly advise you to:
- Ask your provider how your plan will be affected if surcharging regulations change.
- Audit your current payment costs to understand the financial impact of a surcharge ban on your business.
- Be aware of exemptions, as it's unlikely that overseas cards like Amex or specific digital wallets will be included.
Our priority is your business's long-term profitability.
You can give us a call to discuss your options if you want.
Best regards,
Bernard Zimmermann
Written by:
Bernard Zimmermann is the founding director of POS Solutions, a leading point-of-sale system company with 45 years of industry experience, now retired and seeking new opportunities. He consults with various organisations, from small businesses to large retailers and government institutions. Bernard is passionate about helping companies optimise their operations through innovative POS technology and enabling seamless customer experiences through effective software solutions.
