RBA Confirmed: Card surcharges will be banned from 1 October 2026 — check you're on the right rate →
Maybe — it’s worth comparing. Once surcharging ends on covered cards, the card fee becomes a direct cost to your business, so a competitive rate matters more than before; because the merchant service fee itself isn’t capped, comparing providers is the main lever you have, and switching usually keeps the same terminal and setup. No one can guarantee you’ll save.
Last updated: 30 June 2026
It may be worth switching, but the real action is comparing. While you can surcharge, the card cost largely passes to the customer; once surcharging ends on 1 October 2026 for eftpos, Mastercard and Visa, that cost becomes a direct expense to your business. The merchant service fee itself is not capped — only interchange, one component of it, is being reduced — so the most reliable way to lower what you actually pay is to compare your current rate against the market and act on the gap. Start by working out your blended (effective) rate, then weigh it against competitive quotes for a similar setup.
Switching providers usually keeps your existing terminal and setup, so it’s often less disruptive than expected, though the specifics depend on your current contract and hardware. When comparing, look past the headline rate to the pricing model — flat-rate, interchange-plus, or tiered/bundled — and check whether least-cost routing is supported, since routing dual-network debit to the cheaper network can reduce debit costs. Bear in mind that interchange cuts only help you if your provider passes them through, which is another reason to compare. No one can guarantee a saving — the right provider depends on your transaction mix, average sale size and volume.
Source: RBA Review of Merchant Card Payment Costs and Surcharging — Conclusions Paper (March 2026).
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