90 days to the ban - here's what you need to know

If you run a small business in Australia, here`s something worth paying attention to. 90 days from now, the surcharge ban officially kicks into place.

Unlike most changes that are made, businesses are broadly powerless to change this. Visa, Mastercard and American Express have announced that from 1 October 2026 your acquirer (which is your bank or payment terminal) will no longer be allowed to surcharge.

That means any surcharging feature you have now will automatically stop working.

Why this is important

Most merchants today use a feature called dynamic surcharging. This is when your payment terminal automatically adds a fixed surcharge on top of whatever your bill is at check out.

From 1 October 2026, your payment terminal or POS will be forced to switch this off - whether you want to or not. That means your pricing will now incorporate the cost of doing transactions whether you like it or not.

This means that you'll stand to lose between 1 - 1.5% from the 1 October 2026 straight away even without having done anything.

While the Reserve Bank has mandated that the fees charged by Visa / Mastercard are to be reduced from the 1st of October, the reality is that your payment provider is under no obligation to pass this on to you.

Why Now Is the Time to Act

Don`t wait for October 2026 to think about this. and be left with a nasty bill at the endThe businesses that will benefit most are the ones making smart moves now — before the changes hit and before everyone else starts shopping around.

Here`s what to do:

1. Find out what you`re actually paying Do you know your effective rate — the total fees you pay as a percentage of your card revenue? Many small business owners don`t. Call your provider and ask for a full breakdown: interchange fees, scheme fees, and their margin. If they can`t give you a straight answer, that tells you everything.
2. Consider going to zero — right now Why wait to pay less when you could pay nothing at all? Pyng is a zero-cost payment solution built specifically for Australian small businesses. No monthly fees. No percentage clipped from every sale. No hidden charges. While other providers will be negotiating over how much of the RBA`s cuts to pass on, Pyng users are already paying nothing.
   The surcharge ban is coming regardless. The difference is whether you spend the next 12 months continuing to pay fees — or whether you make the switch now and stop paying altogether.
3. Review your pricing before October 2026 With surcharging banned, you`ll need to absorb card costs into your advertised prices. The lower fees make this manageable for most businesses. And if you`re on Pyng, there`s nothing to absorb.
4. Watch the pass-through data when it`s published From early 2027, the RBA will publish data on how much each major acquirer has passed on from the interchange cuts. Use that information. If your provider is at the bottom of the list, it`s time to vote with your feet.

Already on Pyng? You`re Already Ahead

If you`re already using Pyng, you don`t need to stress about surcharge compliance, fee negotiations or whether your provider is passing on savings. You`re paying zero — and that`s not changing.

As the new transparency rules expose just how much small businesses have been overpaying, we think the choice will become obvious. A fair payments system starts with a provider that isn`t taking a cut of every transaction you make.