News: Z1P Australia's central bank tells Buy Now Pay Later firms to drop surcharge ban, page-45

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BNPL was “significantly more expensive” for merchants than other payments including credit cards but had “become an essential payment offering” for many retailers.

RBA’s research showed 60% of consumers said they would switch away from BNPL if they were slugged with a 4% surcharge.

“People should be able to choose not to be burdened by the cost of this payment system, which can be especially expensive for retailers.”
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theguardian.com/australia-news/2021/oct/22/australian-customers-using-buy-now-pay-later-schemes-could-soon-be-slugged-a-fee




How can the RBA in all good consciousness make these recommendations for anyone's benefit other than the big banks and old school credit cards?

How can something be considered an "essential payment offering" for retailers but then using the RBA's OWN RESEARCH say 60% will stop using this "essential payment offering". How are the RBA helping anyone if the retailer never makes most of the sales? They must want everyone to start using credit cards again and to pay them off before the due date.

The RBA recommendations stink and something is not right here. Nobody is forcing the retailers to accept these deals, just don't offer BNPL and possibly lose the extra sales.