Card surcharges have recently been in the news with calls for a ban on surcharging and the governor of the RBA demanding more effort by banks to roll out Least Cost Routing.Card surcharging at the retail point of sale is a uniquely Australian regulatory innovation stridently opposed by the international card schemes. Both Visa and Mastercard have enjoyed windfall profits and share price growth over the last five years.

Card surcharges often shock consumers when the full price of paying with a credit card is revealed on a receipt. Without full, up-front disclosure of costs associated with payments can consumers make the best decision for their themselves.

Consumers understand that cash is surcharge-free and costs associated with card payments should be paid for by card users.

‍A ban on card surcharging threatens to lumber all of us with additional hidden fees and charges. Banks and card schemes are calling for a ban on surcharging, presumably so their fees can be hidden from consumers and they can raise their prices with impunity.

Cash must be widely available and accepted to provide competitive pressure on fees at the retail point of sale. People who use cash should NOT have to pay the costs of premium platinum frequent flyer credit card users or any one else.

A ban on card surcharging effectively means that costs are absorbed into all retail prices and paid for by all consumers, including people who pay with cash. ‍I don't want to pay the costs of your Qantas Frequent Flyer points rewards because you want to pay with an expensive credit card and I use cash for my shopping.

So all retail payments in Australia must be surcharge-free for cash and surcharged at a cost-recovery rate for all cashless payment methods. Right now cash users are subsidising the points rewards of platinum credit card users and the profits of banks and card schemes every time they pay at a merchant who absorbs their card acceptance costs into their prices and doesn't impose a card surcharge.

Cash Welcome is a campaign to protect our right to choose how we pay, backed by donations from consumers, business and the cash industry. I have a petition that has attracted over 190,000 signatures: https://www.change.org/SayNOtoCashlessAustralia