The Reserve Bank of Australia recently announced a major policy shift. From 1 October, retailers will no longer be permitted to surcharge for card payments. This decision presents a unique challenge for small business owners across the country. Small retailers do not share the same cost basis as large national chains. They often pay higher transaction fees for every tap and swipe. They also have no control over which cards customers choose to use. High-cost frequent flyer and premium cards can significantly impact a store’s bottom line.
In a recent instructional video (https://youtu.be/70UBr4pp2dA), Mark and Anthony addressed these concerns. Mark noted that card payment fees are now a standard cost of doing business. However, small businesses can take proactive steps to safeguard their profitability. The recommendation is to begin adjusting pricing strategies immediately. Retailers should not wait until the October deadline to act. Building a margin today will help cover the costs that were previously offset by surcharges.
Tower Systems offers a comprehensive solution through its Stock Manager tool. This feature is found within the Stock Maintenance section of the POS software. It allows retailers to manage inventory pricing in bulk. The tool is designed for efficiency and speed. Users can filter their stock by keyword, supplier, or specific departments. This level of control is essential for a nuanced pricing strategy.
The software enables users to update Sale, RRP, and Web prices at once. Mark and Anthony demonstrated how a percentage-based increase can be applied in seconds. For example, a 3% or 4% increase across a specific department can provide a vital buffer. This process is just as fast for 500 items as it is for five. The system updates the data instantly. Retailers can then choose to print new shelf labels or price tags if required.
Mark suggests focusing on “convenience” categories for these adjustments. Items like stationery or impulse gifts often have more price flexibility. Customers are often willing to pay a small premium for the convenience of a local shop. By identifying these “high-capacity” products, retailers can offset the transaction fees on other items. This strategic approach ensures the business remains viable without a blanket price hike.
The video also covers how to handle rising supplier costs. Anthony mentioned that many suppliers are adding fuel levies to their invoices. Stock Manager allows retailers to recalculate prices based on these new costs. If a price adjustment feels too high, the software can easily reduce it by a set percentage. This flexibility is key to maintaining a competitive edge in a changing market.
Tower Systems is dedicated to supporting local retailers through regulatory transitions. The Stock Manager tool is a vital asset for any business facing the RBA surcharge ban. By acting now, store owners can protect their hard-earned margins. Proactive pricing is the best defence against rising operational costs. Explore the features of the Tower Systems POS software to secure your business today.






Recent Comments