Those surcharges that you posted in the article are the fees that the card networks charge to merchants to carry and process the transaction. Tradie refers to the commission that ZIP charges (between 2 and 10%) to merchants for doing the BNPL biz.
In all BNPL contracts merchants are prevented from adding the commish to the price of a product, whereas the average credit card fee (1% and 1.5%) is often added as a surcharge.
The RBA changes will allow merchants to add the cost of BNPL to the transaction as a surcharge - between 2% and 10% for BNPL, opposed to between 1% and 1.5% for credit cards. BNPL businesses are going to do it tougher than all the other stuff that is killing them.
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Price($) | Vol. | No. |
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