Is It Really That Easy!! Do you charge customers/clients a surcharge on transactions for accepting card payments in your business? If not why?If you are, what rate are you charging them?Example- You have your merchant facility with a bank , who charge you (the business) the following transaction costs:-Eftpos per transaction- 60 cents per transaction Mastercard/Visa – 2% per transaction American Express- 3 % per transaction. According to The Competition and Consumer Amendment (Payment Surcharges) Act 2016, what rate are you able to pass onto every client/customer who pays you by credit card/debit card?The answer is the lowest cost denominator- 60 cents. Most businesses would say 3%!! So to comply with the law, from the above example, you are only able to pass on 60 cents per transaction.However your bank would continue to charge you 2% per transaction for Mastercard/Visa and 3% for American Express Transactions. Therefore you would be losing money in this scenario.The option is to pay 1 rate for all cards ( with this rate either to be passed on automatically to your clients- making this EFTPOS Terminal fee free for you) or for the transaction costs to be absorbed by you in your buisness.For more information, please contact:-Mark Grant email- phone- 0419762478