ACCC: Businesses reminded to review their card surcharges and pricing information

The Australian Competition and Consumer Commission (ACCC) has issued a reminder to businesses to review their card payment surcharges to ensure they are in line with their cost of accepting card payments, while also ensuring they adequately disclose upfront any card payment surcharges that apply, so that customers can make informed decisions before ordering, booking and paying for a product or service. 

The Australian Consumer Law prohibits businesses from misleading people about the prices they charge. 

The Competition and Consumer Act also prohibits businesses from charging a card payment surcharge that is excessive. A card payment surcharge is considered excessive if it is higher than the business’s ‘cost of acceptance’. 

ACCC Deputy Chair Mick Keogh said, ‘It is important for small businesses to ensure they understand their obligations and check their costs of acceptance to know what amounts they can legally charge their customers as a payment surcharge, as well as reviewing how they inform customers of their prices, including any applicable surcharges.’