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Sydney, 18 February, 2003: The claim in today’s ‘Australian Financial Review’ newspaper that “Consumers will be forced to pay higher fees to use EFTPOS terminals in retail outlets” is wrong. The proposal by banks, building societies and credit unions to reform EFTPOS would not have the effect of increasing consumer transaction fees – in fact, the exact opposite is true. The consumer cost of using debit cards is likely to fall considerably under the proposal. Click here for media release from Australian Bankers’ Association, Australian Association of Permanent Building Societies and Credit Union Services Corporation.
The proposal by banks, building societies and credit unions to reform EFTPOS would not have the effect of increasing consumer transaction fees – in fact, the exact opposite is true. The consumer cost of using debit cards is likely to fall considerably under the proposal.
Click here for media release from Australian Bankers’ Association, Australian Association of Permanent Building Societies and Credit Union Services Corporation.