The Reserve Bank of Australia is considering
tightening its current rules that permit merchant surcharging on Visa and MasterCard products.
The proposed variation will allow scheme rules to limit surcharges to a reasonable cost of acceptance, while still ensuring that merchants cannot be prevented from fully recovering their costs. The need for this change arises because in recent years some surcharging practices that potentially compromise price signals, such as surcharging in excess of card acceptance costs, have become more widespread. The Board believes that the proposed variation will improve the efficiency of the payments system by providing better price signals to cardholders.
Comments are due back by Feb 10, 2012.