![]() The business also cannot display its price as ‘$5 (payment surcharges apply)’, because it is unclear to consumers what the price of the payment surcharge will be. The $5.15 price must be clear and stand out so a consumer can easily notice it as much as any statement of the $5 price. If the business chooses to display the $5 price, the business must also show the full price of $5.15. For example, if the lowest possible surcharge was a 15 cent debit card surcharge, the price displayed for the coffee should be $5.15. In this scenario, a consumer cannot actually purchase the coffee for $5. Businesses need to calculate these costs themselves.Įxample of how to display a price where payment without a surcharge isn't availableĪ business charges $5 for a coffee, does not accept cash, and all card payment methods are surcharged. These include costs paid to providers other than their bank or payment facilitator, such as gateway fees, terminal fees, fraud prevention costs and costs of specific types of insurance. There may be some additional costs that don’t appear on these statements which businesses may include in their surcharges. It may also include other fees the bank or payment facilitator passes on to the business for processing card transactions.īusinesses should contact their bank or payment facilitator, or the Reserve Bank of Australia, if there are issues obtaining these statements. This figure will generally include service fees, costs for card terminal rental and maintenance. These should include the business’s average percentage cost of accepting each payment type. Business costs of accepting paymentsīusinesses receive monthly and annual statements from their bank or payment facilitator. The Reserve Bank of Australia sets out the costs that businesses can include when determining their reasonable costs of accepting payment types.īefore introducing a payment surcharge, businesses should read our Payment surcharges guide and the Reserve Bank of Australia guidance material.
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