Retail Payment System (Ban on Merchant Surcharges) Amendment Bill - Amendment paper No 557
Retail Payment System (Ban on Merchant Surcharges) Amendment Bill - Amendment paper No 557
Retail Payment System (Ban on Merchant Surcharges) Amendment Bill - Amendment paper No 557
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No 557
House of Representatives
Amendment Paper
Retail Payment System (Ban on Merchant Surcharges) Amendment Bill
Proposed amendment
Ricardo Menéndez March, in Committee, to move the following amendment:
New clause 7A
After clause 7 (page 4, after line 29), insert:
7A New subpart 1A inserted in Part 3
In Part 3, after subpart 1, insert:
Subpart 1A—Limitation on merchant surcharge fees
35A Limitation on merchant service fees
(1)
A merchant service fee payable by a merchant for a transaction on a retail payment network must not exceed 1% of the value of the transaction if any of the circumstances in section 28B(1) apply.
(2)
The limit on the amount payable by a merchant under subsection (1) is superseded by any network standard that specifies a different limit.
(3)
In this section,—
merchant service fee means any fee charged by an acquirer to a merchant for a transaction on a retail payment network
acquirer, in relation to a designated network, has the same meaning that it has under the network rules of that network.
Explanatory note
This Amendment Paper amends the Retail Payment System (Ban on Merchant Surcharges) Amendment Bill.
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Versions
Retail Payment System (Ban on Merchant Surcharges) Amendment Bill - Amendment paper No 557
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