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The Economy, Stupid
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The Impact of Card Fees on Consumers and Businesses
This chapter examines the differences in debit and credit card usage among various age groups, focusing on the financial implications and transaction costs associated with each method. It highlights the Reserve Bank of Australia's efforts to improve cost routing to alleviate high fees, particularly for small businesses in the restaurant and hospitality sectors. Additionally, it discusses the ongoing inquiry into payment processing and surcharges, advocating for fairer practices and regulation to protect both merchants and consumers.
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