Following a review by the Reserve Bank of
Australia, Visa has introduced new restrictions on any surcharge that retailers
make for the customer use of credit cards.
Basically, retailers must restrict any
surcharge to “a reasonable cost of card acceptance”. The justifiable surcharge
can be made up by the Merchant service Fee (MSF), terminal line cost, credit
card terminal rental, annual acceptance fee and employee training to operate
the terminal.
At the time of writing, other credit facility
providers had not followed Visa’s lead.