THE HON STEPHEN JONES MP

ASSISTANT TREASURER

MINISTER FOR FINANCIAL SERVICES

MEMBER FOR WHITLAM

MEDIA RELEASE

Assistant Treasurer, Minister for Financial Services and Member for Whitlam Stephen Jones will today visit Ambers Cafe & Restaurant in Dapto to discuss how the Government working to reduce payment fees will benefit small businesses and consumers in the Illawarra.

It comes as the Albanese Government cracks down on unfair and excessive card surcharges to get a better deal for Australians and small businesses at the checkout.

$2.1 million in funding is being provided for the Australian Competition and Consumer Commission (ACCC) to tackle excessive surcharges, with further work underway to reduce payment fees.

The Albanese Government is also prepared to ban debit card surcharges, subject to further work by the Reserve Bank of Australia (RBA) and safeguards to ensure both small businesses and consumers can benefit from lower costs.

The declining use of cash and the rise of electronic payments means that more Australians are getting slugged by surcharges, even when they use their own money.

The RBA is responsible for regulating the payments system and is undertaking a Review of merchant card payment costs and surcharging, with its first consultation paper released today.

The Government is prepared to ban debit card surcharging from 1 January 2026, subject to the consultation undertaken by the RBA, and sufficient steps and safeguards to ensure both small businesses and consumers can benefit from lower costs.

Australia’s payments and surcharging system is incredibly complex. The RBA’s Review is an important step to reduce the costs small businesses face when processing payments.

This is about easing costs for consumers without added costs for small businesses, or unintended consequences for the broader economy.

While the RBA’s review is underway, the Government is taking immediate action on excessive surcharging to save people money.

This funding will enable the consumer watchdog to crack down on illegal and unfair surcharging practices and increase education and compliance activities.

It’s another part of the Albanese Government’s plan to help Australians earn more, keep more of what they earn – and not pay more than they should.

Quotes attributable to Assistant Treasurer, Minister for Financial Services and Member for Whitlam Stephen Jones:

“It’s great to be in Dapto to outline how our Government is giving small businesses such as Ambers Cafe & Restaurant and consumers a fairer go.

“These surcharges pile up and punch a big hole in the wallets of customers and the takings of small business owners.

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