Sources and method
Only public sources. No figure is invented. Data as of 10 November 2026.
| Source | Type | Published | Read | Used for |
|---|---|---|---|---|
| RBA, Review of Merchant Card Payment Costs and Surcharging, Conclusions Paper, ch. 3 Interchange Fees | primary (regulator) | March 2026 (page corrected 19 Jun 2026) | 2026-11-10 | New caps from 1 Oct 2026: consumer credit 0.3%, debit and prepaid 8 cents or 0.16%, commercial credit 0.8%, foreign-issued 1.0%; average consumer credit interchange 0.47% before the cut. |
| Payment Systems (Regulation) Standards (Merchant Card Payment Costs and Surcharging) Variation 2026, clause 4.1 | primary (legislative instrument) | 14 Apr 2026, commences 1 Oct 2026 | 2026-11-10 | Interchange caps are exclusive of GST: consumer credit 0.300%, commercial credit 0.800%; international cap 1.000% from 1 Apr 2027. |
| RBA FAQ: Removal of Card Payment Surcharges From 1 October 2026 | primary (regulator) | 2026 | 2026-11-10 | Surcharging ended on eftpos, Mastercard and Visa on 1 Oct 2026. Fee publication from 30 Oct 2026; acquirer pass-through publication from 30 Jan 2027; foreign-issued caps and detailed merchant statements from 1 Apr 2027. |
| Compayr: Which providers cut merchant fees after the 1 October interchange cut? | secondary (comparison site, referral-funded) | 16 Oct 2026, updated 9 Nov 2026 | 2026-11-10 | Provider flat rates before (3 Sep 2026) and after (16 Oct 2026) the cut, all inc-GST as published; the pre-cut debit cap of 0.2%; the worked example card mix used as our default (70% debit, 27% credit, 3% international). Facts only are used here. Verify against your provider. |
| Westpac media release, 23 September 2026 (as reported by Compayr) | primary figure, read via secondary report | 23 Sep 2026 | 2026-11-10 | Westpac Flat Transaction Rate: EFTPOS terminals and PayWay 1.20% to 0.79%; EFTPOS Air and OnlinePay 1.40% to 1.25%. |
| Square Australia pricing: processing fees | primary (provider pricing page) | live page | 2026-11-10 | In person 1.6% (sellers who signed up on or after 30 May 2024; 1.9% for earlier sign-ups on some hardware); online and keyed-in 2.2%. |
Method
- Caps are ex-GST (Standard cl. 4.1). Provider flat rates are published inc-GST, so expected cuts are multiplied by 1.1 to compare.
- Ceiling: consumer credit share × 0.50 points plus debit share × 0.04 points. This is the full cap cut, and caps are maximums, so real savings are often smaller.
- Low case: consumer credit share × (0.47% RBA average − 0.30% cap), debit unchanged.
- Commercial credit (cap unchanged) and international cards (cap from 1 April 2027) add nothing.
- Verdict: your observed cut compared with the expected range. Interchange-plus plans are told to check the statement.
- Default card mix when none is given: 70% debit, 27% consumer credit, 3% international, the worked example in the Compayr article.
Limits
- Provider rates are hand-keyed and dated. They are not a live feed.
- Compayr is a referral-funded comparison site. We use its published facts only and link to it. We did not scrape it.
- Not checked: provider contract terms, terminal rental, scheme fees, or your actual statement.
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