CHICAGO — One result of Australia's 2002 credit card interchange rate reform has been a growing trend among merchants to surcharge consumers who use cards, according to an Australian bank regulator.
John Simon, chief manager for the payments policy department of the Reserve Bank of Australia, described for attendees of the Federal Reserve Bank of Chicago's 2009 Payments Conference a situation where Australian merchants have increased their use of surcharges for consumers who choose a card over another payment method.
Allowing retailers to surcharge card transactions had been a key part of Australia's 2002 reform.
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