Mike speaks with Jason Bryce, spokesperson for the Cash Welcome campaign, about his concerns over the Reserve Bank’s plan to ban card surcharge fees.

The RBA claims the move would save Australians $1.2 billion, but Bryce calls it a “disaster,” warning it will lead to hidden costs being added to product prices.

He argues the current system is fairer, as only card users pay extra fees—cash users don’t. If surcharges are scrapped, Bryce says, everyone will end up paying more, even those who use cash, effectively funding perks for credit card users like rewards and travel deals.

He calls the RBA’s move “un-Australian” and a win for Visa and Mastercard.

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