The Government has changed the way credit and debit card transactions are processed in Australia which came into effect on 1 September 2017. There are two main changes:
AFTA has been actively involved with this process since 2015, advocating throughout the credit card surcharging review making submissions and holding multiple meetings with the Reserve Bank of Australia, Treasury officials and industry.
AFTA has successfully advocating for surcharging continuation and that Forward Delivery Risk (as a result of no fault third party chargeback) was included as a permissible cost of acceptance to be included in the surcharge.
In June 2017 AFTA also launch the AFTA Insolvency Chargeback Scheme (AICS) which will protect approved ATAS accredited travel agents in the event of a chargeback which is a result from a supplier collapsing.
More information can be found on the AICS website and current ATAS travel agents should register their interest to ensure you don’t miss out on being covered.
The below information is provided by AFTA as general advice and each business should seek professional advice from an adviser on their specific circumstances.
If AFTA members have further questions they can contact AFTA’s on AICS@afta.com.au or call us on 02 9287 9900.
Understanding the changes to electronic payments and credit card surcharging
AFTA has developed the following introductory briefing on the recently announced changes to credit card surcharging.
The briefing note explains in plain English what the changes are and when they will be implemented.
Updated 29 August 2017.