EFTPOS fee hike could cost small retailers

Payment operator EFTPOS is considering raising fees to fund an upgrade of its debit card scheme, a move which rivals claim will hurt small retailers. EFTPOS Payments Australia or EPAL, the company that manages EFTPOS, is in discussions with the major banks and retailers on a restructure of fees for use of the payments […]

StartupSmart 08 February, 2011

Payment operator EFTPOS is considering raising fees to fund an upgrade of its debit card scheme, a move which rivals claim will hurt small retailers.

EFTPOS Payments Australia or EPAL, the company that manages EFTPOS, is in discussions with the major banks and retailers on a restructure of fees for use of the payments scheme.

But rival Tyro Payments says small retailers might be forced to bear the brunt of the fee rise, which could translate to $250 million in additional costs for the sector.