With the political parties battling it out on who is best at tackling the cost of living, attention has been directed towards whether the surcharge placed on debit card transactions is excessive. This has led to a group of six Labor MPs lobbying the Reserve Bank of Australia to limit the amount financial institutions can charge when it comes to processing digital payments.
Stephen Hill explores the issue of digital payments and whether Australian banks are abusing their market power.
Image: Jerome Laxale addressing the House of Representatives Economics Committee
Produced By: Stephen Hill
Featured In Story: Jerome Laxale – Labor member for Bennelong, and Matt Comyn – CEO of Commonwealth Bank of Australia
First aired on The Wire, Thursday 13 March 2025