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Shoppers angered by high card surcharges

19/05/2011

Two thirds of Australian retailers are slugging customers with a credit card surcharge as high as triple the actual payment fee it is meant to recoup.

Banking researcher East & Partners found 28 per cent of Australian retailers now impose a surcharge on customers paying by credit card.

The majority of retailers are charging customers at least 3 per cent to use Visa or MasterCard.

This is despite the average trader paying fees of less than 1 per cent to Visa and MasterCard and 1.9 per cent for American Express transactions.

Angry consumers have swamped consumer group Choice's website complaining of not being given notice of surcharges.

Queensland Consumer Association spokesman Ian Jarratt said customers often paid by card to obtain loyalty points without realising the surcharge often outweighed the value of the points.

Source: Courier Mail



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