You need to understand how Smartpay gained market share in Australia. All of the growth is on the back of it's zero-cost offering to merchants. That is - everything about the terminal including the paper receipts are free - but you'll add a surcharge, and we'll keep it all.
Now, merchants won't be allowed to add a surcharge on debit cards - which are the majority of card payments in Australia. They'll need to re-work this value proposition. It'll be something like - we keep the credit card surcharges, but we'll charge you transaction fees for debit cards payments. It basically blows up the whole customer value proposition.
SMP Price at posting:
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