Australian Prime Minister Anthony Albanese says move would help ease cost of living for households.
Australia has announced plans to ban debit card surcharges that the country’s central bank estimates are costing consumers nearly 1 billion Australian dollars ($671m) a year.
Australia’s centre-left government said on Tuesday that it would seek to ban the “unfair and excessive” charges from the start of 2026 subject to a review of card payments by the Reserve Bank of Australia (RBA).
Australian Prime Minister Anthony Albanese said his first priority was to ease the cost of living for households and the proposed ban would be “another step to protect Australians.”
Treasurer Jim Chalmers said the move would ensure a “better deal” for consumers and lower costs for small businesses.
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