What do the new credit card laws mean for me?

The cost of airlines, event tickets and taxi fares will all fall significantly when you pay with a credit card, thanks to new laws aimed at cracking down on companies that charge excessive credit card surcharge fees.

Australia’s airlines were singled out as the worst offenders in charging excessive surcharge fees.The ACCC will soon have the authority to hit airlines and other merchants with a $108,000 fine for every contravention of the RBA’s fee guidelines. Minister Simon Birmingham said the new laws would provide savings to everyday Australians.

Source: The New Daily