Hi Cash Lovers, 

You might think that Visa, Mastercard and EFTPOS costs would be coming down, with more cashless transactions being made and increased scrutiny from government and regulators.

But no, they just keep going up up up. 

Retailers pay fees to banks or EFTPOS companies to accept card and phone payments. They either pass on those fees to consumers through surcharges or they absorb the cost into the prices of the goods and services we purchase.

Despite the number of card and phone transactions going up, the fees retailers pay to accept card payments is also surging higher, up at least 10 per cent so far in 2025, reports leading payments industry newsletter PayDay News.

Visa and Mastercard costs are up but "the most dramatic movement has been in fees for eftpos transactions, which climbed 2.3% in the September quarter alone and are now up 13% since the start of the year."

This is a dysfunctional market. This is not how markets are supposed to work.

PayDay News says:

"For merchants, payment costs are rising from both directions.

"Higher transaction volumes mean more fees paid, while higher rates per transaction compound the impact.

"The payments industry is capturing value from both growth and price increases."

No wonder retailers around Australia are asking consumers to pay with cash. EFTPOS fees are slugging small business and adding to their cost burden. 

Imagine if there is no cash to compete with the cards? What would stop banks and EFTPOS companies raising their fees even higher? 

Yesterday I talked about the insane situation unfolding in retailers around the nation on Brisbane radio 4BC.

Imagine this: You fill up with petrol and head inside the servo to pay, only to be told "sorry we don't accept cash."

No signs outside at the pump, no pre-warning and no cards or phone in your pocket. That's what happened to a Brisbane woman this week.

Meanwhile, the government is not being serious about our right to pay with our legal tender, cash.

"the cash mandate has the potential to accelerate the demise of cash, rather than support its continued use," writes Dale Webster in TheRegional.com.au.

Please sign and share our petition to demand a cash and banking guarantee.

https://www.change.org/SayNOtoCashlessAustralia

Please make an affordable gofundme donation to help me keep this campaign going or deposit to the Cash Welcome Commonwealth Bank account:

Cash Welcome
062-692
4954 6502
.
Thanks and yours truly, 

Jason Bryce
jason@cashwelcome.org