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Will there ever be action on high credit card fees

The Murray Financial System Inquiry observed that credit card surcharges imposed on consumers by retailers and merchants were often exorbitant.

17 per cent of Australian businesses levy surcharges on Visa and MasterCard users. Businesses are charged an average merchant service fee for accepting MasterCard and Visa of 0.81 per cent.

Airlines are the worst offenders for high credit card surcharges. In January 2014 Qantas had a card surcharge equal to 339 per cent for a $197 ticket, Virgin Australia had a 412 per cent charge on a $185.70 ticket, Jetstar had a credit card surcharge of 2312 per cent for an $87 ticket and Tigerair charged 1479 per cent for a $132.90 ticket.

Source: The New Daily

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