We have been working with Tyro and others to help fight the expected move by the big banks plus Coles and Woolworths to increase EFTPOS fees from October 1. EPAL, the body which governs EFTPOS fees has already announced fee changes. While we don’t know if the big banks will increase fees to retailers, recent moves indicate that this may be on the cards. Hence the importance of work to help protect the interests of our community of small and independent retailer.
We are working on this by making representations to politicians as well as media outlets. We have attended several meetings interstate in pursuit of fairness not only for our customers but all small and independent retailers.
Tyro has committed to not increasing its fees except for a minority of premium cards which it has no choice but to move slightly.
Pushing back against higher fees by big banks is important work. We are glad to be in a position to help. We see our work as part of our commitment to social responsibility.
You can read the latest press release from Tyro on this important issue here.