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Excessive CC fees banned

AIRLINES will be required to end the practice of passing on excessive credit card fees to consumers, with the ACCC to enforce new regulations in Sep. The provisions, known as ‘The Standard’, were set by the Reserve Bank of Australia Payments System Board who yesterday ruled any surcharges exceeding the direct cost of the payment method will be deemed “excessive”. Currently, Virgin Australia, Jetstar and Qantas charge credit card processing fees of $7.70, $8.50 and $7.00 respectively. When new standards come into play ...

The above snippet is the first part of an article sent to subscribers in Travel Daily's issue from 27 May 16

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