how will this affect payments processing companies such as Tyro?
Chemist Warehouse goes to war with card fees – using QR codes
Chemist Warehouse, the pharmacy and retailing giant headed for a merger with ASX-listed Sigma Healthcare, is attempting to circumvent big credit card fees by introducing a new way to pay – using QR codes.
The company, the largest chain of chemists in the country, spends more than $15 million in payment fees – which it has not passed on to consumers – every year. “Because we are a discounter, and work on low margins, these transaction costs represent a big part of our potential profit,” Jack Gance, the company’s chairman, told The Australian Financial Review.
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