Important information - Credit Card Surcharge

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As of the 1st of September 2017, the Reserve Bank of Australia has brought into effect new rules for credit card surcharging and fines for non-compliance. Essentially, businesses should not be charging a higher surcharge than they are being billed by their banks. This is generally set on a percentage of the transaction total, otherwise if you are charging a flat fee it should be less than the surcharge percentage applied to your lowest cost item.

Businesses that implement credit card surcharging should review the following information made available by the Reserve Bank of Australia and the ACCC:

http://www.rba.gov.au/payments-and-infrastructure/credit-cards/regulatory-framework.html

https://www.accc.gov.au/consumers/prices-surcharges-receipts/credit-debit-prepaid-card-surcharges

Front Desk users that integrate their Tyro or HICAPS terminal should contact their respective provider for assistance with setting the appropriate surcharge rate on their terminals. Please note Smartsoft cannot assist with the configuration of your terminals.

Once the terminal has been configured, to list the surcharge on receipts in Front Desk a surcharge item can be set in System Information > TYRO/HICAPS/EFTPOS:

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Timothy, Business Care Manager

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Posted 1 year ago

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