RBA ban on surcharging and MYOB online payments surcharges

Hi Isaiah, Can i just ask you to review that comment? The change is about both removing the surcharge and addressing the costs....

In Brief: Merchant Card Payment Costs and Surcharging – March 2026 | RBA

This is a statement taken directly from the RBA "Review of Retail Payments Regulation – Phase 3"

Fees paid by businesses for card payments are too high

We are lowering the maximum interchange fees that businesses pay for debit and consumer credit card payments. We are also introducing a cap on interchange fees for foreign card payments. This should help to reduce card payment costs, especially for small businesses.

So, according to the RBA, as of 1 October 2026, businesses must remove surcharges on eftpos, Mastercard and Visa payments. To help small businesses, this is coupled with a reduction of domestic interchange fees. So, will we see a reduction in the fees we are charged by MYOB?

Yes, this is the big question on every surcharging business's mind and it sounds like MYOB have not made a decision yet on this. I wonder if the maximum interchange fees have actually been set yet.

We will have to do what what Priya from case study 3 does:

Priya can use the data that will be published on the RBA website to check if she pays significantly higher payment fees than the average medium-sized merchant.

If MYOB are not competitive enough they will lose volume in this part of their business

https://www.rba.gov.au/payments-and-infrastructure/review-of-retail-payments-regulation/2026-03/conclusions-paper/impact-and-implementation.html#cs-3

I too would like to hear more on how myob will be adapting with this.. especially seeing the new version has a new feature 'payment scheduling' which also charges a mandatory fee... what are thr functional implications of turning online payments off.. as my clients will bot want to cover the fees

Hi JackW1, 

You’re reading it right.

From the RBA announcement, the changes are expected to start on 1 October 2026 for eftpos, Visa and Mastercard, so this would likely affect how surcharges work with Online Payments.

The development team are fully aware of the change, but there isn’t a concrete announcement yet on exactly how this will look in the product.

Once there’s a confirmed update, it should be shared through MYOB’s usual update and help channels.

Regards,
Genreve

Hi Sjacob,

Thanks for raising this. The RBA change is about removing card surcharges, rather than reducing the payment fees charged by MYOB. MYOB uses a blended, single-rate pricing model for relevant payment services, so the processing fee is the same regardless of which payment method your customer uses. From 1 October 2026, MYOB will remove the option to pass Online Payments and Tap to Pay fees on to customers as a surcharge.

We’ll share more product-specific updates before the change takes effect. You can find more information here: Changes to payment surcharging in Australia from 1 October 2026 

Regards,

Sai