'I feel like I'm being ripped off using my money. It's not a credit card'. 9News
"Even though the fees haven't gone up, let's think about it, we are in a cost-of-living crisis," she said."So guess what? The fee we pay on that card goes up as it's calculated as a percentage."Mastercard fees sit around $0.47, whereas Amex "is a lot more expensive" with a $1.34 surcharge, Zahos added.
The finance expert went on to explain that small businesses also incur a cost to use eftpos in their stores. This was corroborated by a small business owner who told Fordham his merchant fee went up 20 cents per transaction in January."Some of the small businesses can't carry it on and they're forced basically to pass it onto consumers," Zahos said."Understand may possibly charge you a higher surcharge than big business."
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