The Reserve Bank of Australia (RBA) released its final decision following its review into merchant card payment costs and surcharging.
Surcharging on eftpos, Mastercard, and Visa ends 1 October 2026
If you’re seeing a lot of coverage and commentary, it’s worth pausing to understand the changes and the facts before making any decisions. This is an important update, but there’s nothing you need to do right now.
The most significant change is that surcharging on EFTPOS, Mastercard and Visa is expected to end from 1 October 2026.
This is an industry-wide regulatory decision that will apply across the payments ecosystem. Every business that accepts card payments, and every payment provider, will be working through the same changes and timeframes.
“For hospitality venues operating on tight margins, payments policy is never just theory, it affects pricing, staffing and day-to-day viability. Many venues have used surcharging as a fair way to recover genuine payment costs, so we understand why this decision will be disappointing for some merchants. Our focus now is helping venues understand the real impact, plan properly and feel supported through the change.”
- Kris Satish, Group CEO, Oolio
Surcharging on eftpos, Mastercard and Visa is expected to end from 1 October 2026. The RBA will lift its prohibition on no-surcharge rules for those designated card networks, and expects the networks to introduce those rules after that. This change does not currently extend to three-party networks such as American Express.
The key point for merchants is that nothing changes immediately. The main reforms do not begin until 1 October 2026, so there is time to plan properly.
Other changes include:
One really important point: the RBA has not reduced scheme fees.
So, while you may hear that “fees are coming down,” that does not mean all payment costs are being cut.
What the RBA has done on scheme fees is push for:
That is useful, but it is not the same as a scheme fee cut.
When a customer taps, inserts or pays online with a card, the total cost of accepting that payment is made up of three parts: interchange, scheme fees, and your provider’s margin. The RBA refers to this as a merchant’s cost of acceptance.
Interchange is a wholesale fee paid by the merchant’s acquirer to the customer’s card issuer when a card payment is made. In simple terms, it is one of the behind-the-scenes bank-to-bank costs built into card acceptance.
Scheme fees are different. They are fees charged by card networks like eftpos, Mastercard and Visa to acquirers and issuers for the services they provide. These can include assessment fees, processing fees, licensing fees and access fees.
Why does that matter? Because the RBA has decided to reduce some interchange costs, but it has not directly reduced scheme fees in this review. On scheme fees, the RBA’s approach is more transparency and simpler billing, not a direct scheme fee cut.
The most important message today is simple: you don’t need to do anything right now. Since this is a regulatory change affecting the whole market, you may see a lot of commentary in the coming days. The best next step is to focus on the confirmed facts and the published transition dates, and we’ll help you do exactly that.
Some providers may use this moment to create urgency or claim they can solve everything overnight. Our advice is simple: don’t rush. The practical impact will depend on your setup, pricing model and how these changes are implemented over time.
“Hospitality operators already have enough on their plate. Our job is to cut through the noise, explain what these reforms actually mean for venues, and help customers work through any changes in a calm, practical and well-supported way.”
- Kris Satish, Group CEO, Oolio
If you’re with Oolio Pay, there’s no need to take any action, we’ll be in touch shortly. In the meantime, if you have any questions or concerns, please feel free to contact us.
We're taking a measured approach focused on protecting hospitality operators:
Assessing any impact on your processing costs and configuration: Where there are adjustments to wholesale fees or transparency requirements, we'll map those to how your processing works today.
Supporting compliance and customer experience: Hospitality needs payment settings that are clear, compliant and easy for staff and customers at the counter. As the rules evolve, we'll guide you through what “good” looks like.
If you’re currently using a third-party payment provider such as CBA, Westpac, Tyro, Smart Pay, Zeller, or others, with your POS, these changes may affect your setup over time. Rather than trying to sort through provider updates on your own, you can send any pricing changes, rule updates or communications through to Oolio and we’ll help you understand what they mean for your venue, and what needs to change in your POS or payment flow.
Updates like this can also be a reminder that when payments and POS are managed separately, there can be more coordination and admin involved in keeping everything aligned. With Oolio Pay, your payments and POS are managed together in one place, which can make things simpler when pricing, settings or compliance requirements change.
If you receive any conflicting or high-pressure messaging from other providers, send it through to us, and we’ll help you make sense of it.
Payments should be transparent, fair, and fit for the way hospitality actually operates. That is what we’ll keep working toward as these changes roll through.
We understand that regulatory changes like this can feel complex. Interchange caps, surcharging rules and compliance standards aren’t things most business owners want to spend time interpreting, and you shouldn’t have to.
We’ll be in touch shortly with a clear summary of what’s changing, any impacts to your current card processing, and whether anything needs to be updated in your POS and Pay settings. We’ll guide you through the change, keep your checkout experience smooth, and help you stay compliant, without unnecessary disruption.
If you have questions, our team is here to help. We’ll continue to keep you informed proactively, every step of the way.