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eftpos proposal needs revision
Australia's four major banks and Woolworths and Coles will be the only beneficiaries if new regulations of the eftpos payment system are allowed, Tyro Payments warned.
Grocers call for eftpos fairness
Independent supermarkets and liquor stores, excluding those run by Woolworths and Coles, have lashed at the increases in eftpos charges for debit and credit cards that will be introduced in coming weeks.
Banks gain $150M in eftpos fees
Tyro has estimated that banks have pocketed an extra $150 million from retailers and customers since new credit and debit card interchange fees were introduced on 1 October.
Aldi demands banks to be transparent
Aldi has called for Australian banks to prove their net costs are increasing as a result of changes to the eftpos interchange fees.
Aldi's victory in eftpos case
The Federal Court has recognised that ePAL's plan to change the eftpos fee model may lead to higher debit card surcharges in store.
Aldi takes ePAL to court
Aldi has demanded for greater transparency in the new multi-lateral interchange fee model for eftpos transactions being introduced on 1 October 2011.
ePAL clarifies changes
The company that manages the eftpos debit payment system said it wishes to "clarify" aspects of its announcement
Eftpos changes to affect retailers, consumers
From October, ePAL will pass the 5 cent interchange fee from consumers’ financial institutions to the banks of retailers where the costs are expected to be passed onto retailers and customers.
ANF urges EPAL to reconsider
The ANF is asking the ederal government and banks to reconsider the new eftpos fees system that was introduced by EPAL in early March.
