Australians Face Higher Prices After Card Surcharge Ban Takes Effect

Café and restaurant owners across Australia have begun passing on higher costs to consumers after the card payment surcharge ban took effect last week. The Reserve Bank of Australia had predicted this move, and many business owners followed suit.

The ban, which came into effect on October 1, aimed to reduce fees for merchants when customers use credit or debit cards to make purchases. However, with the prohibition in place, businesses are now absorbing these costs themselves by increasing prices.

As a result, coffee and menu prices have risen at many venues, affecting consumers who visit these establishments regularly. The extent of the price hike varies across different locations, but the overall impact is clear: higher expenses for customers.