Small businesses from pubs and cafes to convenience stores have joined calls for the Reserve Bank of Australia to rethink its ban on card surcharges, fearing that the fees they pay to banks will stay the same and crimp their margins.

After the big banks threatened to jack up credit card fees and rates and restrict access to interest-free periods in response to the RBA’s proposals, a broad range of retailer groups told the central bank on Tuesday that its plans did not go far enough. They expressed concerns about being saddled with high payment costs that they could no longer pass on, forcing them to lift prices or take a hit to profits. Loading...

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