Payments System Board Consultation on a Variation to the Standards Relating to Surcharging December 2011

In June, the Reserve Bank initiated a public consultation on potential changes to the Standards relating to merchant surcharging. In light of the views put forward during that consultation and recent developments in surcharging practices, the Board decided at its meeting on 18 November that there is a case for varying the Standards. It is holding a public consultation to seek views from interested parties on the specific form of the proposed variation to the Standards.

The need for this variation arises because in recent years some surcharging practices that potentially compromise price signals, such as surcharging in excess of card acceptance costs, have become more widespread. The Board believes that the proposed variation will improve the efficiency of the payments system by providing better price signals to cardholders.

Consultation document A Variation to the Surcharging Standards
Closing date for submissions 10 February 2012
Submissions Submissions Received