Wednesday, April 13, 2011

New EFTPOS Charges Seen to Hurt Small Businesses

Brett Carey, a newsagent of Deception Bay, reacts to the set of changes made to the EFTPOS charges that is to be introduced in October. According to him, it is “yet another nail in the coffin” for small businesses. He also questioned about Coles and Woolworths being shareholders of EPAL.

He further stated that the new interchange fee model being introduced is going to cost him another $6500 per year.

According to Carey, “It’s harsh, that’s the same amount I would pay a young girl to work Thursday nights and Saturdays ... the charges will be at the expense of an employee.”

Alf Maccioni, CEO of the Australian Newsagents Federation, calls on the government and banks to reconsider and take a deeper look at the proposed changes on EFTPOS as this may hurt small businesses.

Maccioni added that the charges would cost customers and small businesses around $150 million per year.

EPAL Managing Director Bruce Mansfield responded that the new set of EFTPOS charges is not a tax, but is only a new model aimed at improving and maintaining the EFTPOS system. He adds that the new structure would make the EFTPOS network more secure, convenient, and accessible.

In answer to Carey’s concern on Coles and Woolworths, Mansfield says these were self-acquirers who processed their own transactions and dealt directly with cardholders’ banks. He also offered talks with Mr. Carey.

News Source: Redcliffe and Bayside Herald »

No comments:

Post a Comment