Original article by Samuel Yang
abc.net.au – Page: Online : 5-Mar-24

Analysis based on figures from the Reserve Bank has revealed that Australians are losing $960.26 million a year in card surcharges, which can be significantly reduced through proper implementation of least-cost routing (LCR). LCR is an RBA scheme that seeks to cut card payment processing fees for businesses, and RBA governor Michele Bullock has threatened to mandate it by the middle of the year if a target of 80 per cent of business terminals being enabled with LCR is not met by then.

CORPORATES
RESERVE BANK OF AUSTRALIA