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Paying with a credit card or a debit card will be free of surcharges from October 1. Card surcharges will be banned to simplify the card payment framework and offer cost-of-living relief to Australians. The Payments System Board (PSB) found that “the surcharging framework, introduced more than two decades ago, is no longer achieving its intended purpose of steering consumers towards making more efficient payment choices,” the Reserve Bank of Australia (RBA) said on Tuesday. #surcharge #RBA #fina
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