Visa, Mastercard blamed as cash makes huge comeback
Hi Cash Lovers,
Businesses are preparing to replace card surcharges with discounts for cash with some planning to reject card payments altogether.
Surcharging is banned from tomorrow 1st October 2026. Today the banks blamed Visa and Mastercard for the high costs that small business will bear for accepting card payments. ABA CEO Simon Birmingham said bank card fees are capped and will fall from tomorrow:
"If small businesses do not see reductions in their overall card payment costs, it will be because other players in the payments system – including card schemes and payment service providers – have absorbed the savings rather than passing them on."
This week, the media is full of stories about businesses preparing to stop accepting credit and debit card payments.
ABC reported many businesses will reject cards and go cash-only according to the Australian Restaurant and Cafe Association chief executive Wes Lambert.
Guardian Australia reports merchants are already informing customers they will stop accepting card payments altogether.
Financial experts believe small businesses may introduce cash discounts to soften the blow from the removal of surcharges reports Channel Nine.
Customers are happy go back to using cash reports Yahoo Finance.
Some businesses are urging customers to use cash or direct bank transfers, reports Smart Company.
Cash discounts are set to replace card surcharging, reports Channel Seven.
Cash is set for a major comeback reports The Australian.
We made this happen.
Our petition, our Cash-Out Day, our constant pressure, our facts, figures and research.
Our refusal to accept them pushing us toward their impossible cashless society.
We made the cash mandate happen. Now we are seeing more businesses reject card payments.
Thank you for backing our right to choose how we pay.
Please help me fight their war on our cash
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Jason Bryce
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