Shops expected to foot bill for eftpos rise

Eftpos has come under increasing pressure from debit card payment schemes run by global companies such as Visa and MasterCard. Such schemes have higher interchange fees, which translate to higher revenue for banks that issue the cards instead of eftpos cards.

Advertisement: Story continues below Previously, retailers received a rebate of 4¢ to 5¢ from their bank for use of the eftpos network. This often translated to hefty discounts for renting the payments hardware, underpinning the rapid expansion of the system over the past decade.

via Shops expected to foot bill for eftpos rise.

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