The RBA has confirmed it: card surcharges are being banned.

There was some big news in the payments industry today.

For the record, below is the note that we sent to our customers.

If you know of any businesses that are understandably nervous about these changes then please encourage them to reach out to GreenPay. We’d love to see if we can help to reduce their fees, while also doing something with the profits that they can be proud of.

The RBA has confirmed it: card surcharges are being banned

Following the conclusion of its payments review, the Reserve Bank of Australia has announced that businesses will no longer be permitted to pass on surcharges for debit or credit card payments from 1 October 2026.

Alongside the surcharge ban, the RBA is also reducing interchange fees (the fees the banks charge per transaction). Put simply, the banks will be receiving less, and the underlying cost of accepting card payments is coming down for Australian businesses.

This is the most significant shake-up to Australia’s payments landscape in decades.

What this means for your business

If you’re already not surcharging: You’re ahead of the curve — nothing about your current setup needs to change. You’ve been providing your customers with a seamless, surcharge-free experience all along, and we’re proud to be the engine behind it. The reduction in interchange fees is also good news for your bottom line. Because the banks will be receiving less per transaction, those savings will flow directly through to you in the form of lower payment costs.

If you’re currently surcharging: From 1 October 2026, you’ll no longer be able to pass card fees on to your customers for eftpos, Visa or Mastercard payments. There’s going to be a lot of noise about this, so we wanted to reach out early to reassure you.

Here’s what matters: Your costs are coming down. The RBA is cutting the interchange fees the banks charge on every transaction, which means the amount you’ll need to absorb into your prices will be less than what you’re surcharging today. You’re already on a competitive rate with GreenPay, and we’re working through the detail now. We’ll be in touch with what this means for your pricing specifically, and to make sure you are fully compliant well ahead of the deadline.

Meanwhile, the crisis that isn’t making headlines

There will continue to be enormous debate about what this ruling means for bank revenues and rewards points. We get it: Those conversations matter. But if only there was as much noise about the environmental crisis.

Right now, Australia’s threatened species list has over 2,138 animals and plants on it, and it grows every single day. Out of 109 countries, Australia ranks second-worst for spending to recover threatened species. Only $1 in every $1,000 of the federal budget goes to protecting nature…

...Meanwhile, a recent study found that Australia needs roughly $8 billion a year to protect and restore our ecosystems, yet current funding falls short at just $1.5 billion.

That’s a gap we’re determined to help close. And that’s why 50% of GreenPay profits (from your transaction fees) go directly toward protecting and restoring Australian biodiversity.

Know a business owner feeling the pressure right now?

Many business owners will be feeling uncertain about what these changes mean for them. If you know someone who’s now reviewing their payment provider and who cares about both their bottom line and the backyard we all share, we’d love for you to send them our way. We’ll make their switch a win–win: competitive rates, local support, and payments that actually do some good.

Thank you for being part of GreenPay. Seriously. Every business that chooses to process their payments through us is choosing to put nature at the centre of something they were doing anyway, and that’s something the 2,138+ species on Australia’s threatened list can’t afford to take for granted. We don’t take it for granted either.