Surcharging in ACCC's crosshairs
The competition and consumer regulator has named surcharging practices as a new enforcement priority as it warned businesses against overcharging customers for payments.
When Australian Competition and Consumer Commission (ACCC) chair Gina Cass-Gottlieb takes to the stage at Sydney’s Four Season’s hotel today to outline the regulator’s enforcement priorities for the next financial year, there will be a new item on the list — surcharging practices.
In a speech to a room filled with her former colleagues in competition law — many of whom are hungry for more of a competition focus from the regulator than they’ve seen in the last few years — Cass-Gottlieb will set out the ACCC’s plans for the $2.1 million in new government funding allocated in 2024 to tackle excessive surcharging.
“In the year ahead, our work will focus on increasing business compliance with the excessive card payment surcharging prohibition, and improving pricing practices to ensure all add-on costs are appropriately disclosed,” Cass-Gottlieb will say.
The ACCC’s surcharging plans have both a consumer law and competition angle. Cass-Gottlieb will outline the regulator’s continued contribution to the Reserve Bank’s policy considerations on card surcharging and retail payments “to support consumers and businesses while ensuring effective competition in the payments system”.
