Hi Cash Lovers,
Thanks for being a part of our campaign to Say No to the Cashless Society.
Did you know that unlike traditional credit cards, Buy Now Pay Later services clearly discriminate against cash buyers?
Credit cards (and debit cards) can attract a surcharge that covers the costs for the merchant of accepting that form of payment. This is often around 2% of the purchase price. Even EFTPOS debit card transactions are often subject to minimum transaction amounts or small fees.
BNPL providers like Afterpay, ZipCo and others require merchants to not surcharge their customers.
For example, Brisbane-based BNPL provider Payo's Terms and Conditions tells merchants:
"You must not inflate your cash price to our customers."
Payo also insist that no merchants give cash buyers "no further discount."
Afterpay charge merchants a flat transaction fee plus a percentage of the price.
CHOICE says Afterpay merchant fees are $0.30 plus 3% to 7%. Afterpay collects 80% of its revenue from the merchant and 20% from late fees levied on the consumer, according to ASIC.
Why are BNPL costs allowed to be hidden from the consumer while other payment methods are explicitly banned from doing this?
Why shouldn't a merchant be able to offer discounts to their cash customers of at least 3% to 7%?
CHOICE is correct in saying "the safest way to shop remains to save and pay up front" so why are BNPL providers allowed to force merchants to discriminate against cash purchasers?
Why do people using cash have to pay the price for Buy Now Pay Later services?
This is just another way that cash users are being discriminated against by cashless payment providers. Please share and promote our petition to ensure that our voice is heard and that all shops are required to treat cash users equally.
We have a right to choose how we pay. Cash is legal tender and the law should require that retailers accept cash without charge, without fees and without question.
This is the easy link to our petition:
https://www.change.org/SayNOtoCashlessSociety
Cheers,
Jason