Press Release

Our submission to the RBA on merchant card payment costs and surcharging

Sydney, 08 September 2025

Macquarie Bank has today published its submission to the Reserve Bank of Australia’s (RBA) public consultation on the way card payments and surcharging are regulated.

Macquarie Bank believes there is an opportunity to create a more equitable, efficient and transparent payments system in Australia for the benefit of consumers and small-medium sized businesses. As outlined in our submission, we believe this ambition is best served by:

  • Reducing debit card costs for merchants and consumers
  • Reducing credit card costs in line with debit cards or if this is not possible, permitting credit card surcharging so businesses can fairly allocate costs to those choosing not to use a debit card
  • Directly capping merchant fees and scheme fees while extending coverage to three-party and Buy Now Pay Later payments

Macquarie Bank has welcomed the opportunity to provide input and looks forward to working with the RBA and other stakeholders as recommendations are finalised.

You can view Macquarie Bank’s submission to the consultation here.

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