The Payments System Board has issued a Consultation Document as the basis for a public consultation on potential modifications to the ‘no-surcharge’ Standards that apply to the credit card and scheme debit card systems in Australia.

The Board is concerned that in recent years some surcharging practices, including surcharging well in excess of card acceptance costs, may have reduced the effectiveness of previous surcharging reforms (which freed up the system). The Board believes that, while the reforms have improved the efficiency of the payments system, including by improving price signals to cardholders, there may be a case for varying the Standards to allow schemes to place some limits on the level of surcharging.