Excessive card surcharging will be banned for all businesses from today, 1 September, continuing the Coalition Government’s immediate-action approach to delivering fairer financial services for Territorians.
“This action will ensure Territorians are not ripped off when they make purchases with their cards. This will give our community the confidence that card surcharges reflect the true cost of the transaction, not an artificially inflated sum designed to profit gouge,” Country Liberals Senator for the Northern Territory, Nigel Scullion, said today.
“As Territorians get set for the footy finals they can purchase tickets and airfares free of inflated card payment surcharge hits. This is practical action from the Coalition Government and delivers immediate results for Territory households,” Senator Scullion said.
The extension of the ban to all businesses from today follows the regime applying to large businesses from 1 September last year.
Smaller businesses were granted extra time to prepare for the ban, but from today all businesses will need to cease any excessive surcharging. If they continue to impose a charge for card payments, they must restrict it to their reasonable cost of acceptance of the payment.
Businesses have been on notice for more than a year to review their surcharging practices and make sure they understand and comply with their obligations.
Consumer watchdog the ACCC will act as a strong cop on the beat to police these rules. If people find that they are being hit with an excessive surcharge when they go to the shops, buy tickets online or book a holiday, they should not hesitate to contact them on 1300 302 502.
“The Coalition Government is getting on with the job of acting now to deliver a fairer playing field for Territory families and businesses when it comes to financial services. Our sole focus is on delivering real outcomes, not years of talk,” Senator Scullion said.
Further guidance for businesses and consumers is available at: www.accc.gov.au.