COSBOA, The Council of Small Business of Australia has joined the fight against the new and unfair to small business EFTPOS fee regime. They have issued a stinging press release which includes:
COSBOA believes that the Reserve Bank of Australia (RBA) has once again failed small business and given big retailers and banks a leg up that they don’t need.
The RBA has made a decision to allow for increased costs to the users of EFTPOS facilities. Woolworths and Coles, who were members of the EFTPOS board have already made agreement with the banks, who were also members of the EFTPOS Board , that they will not receive any fee increase which means small business owners will have to pay for this decision. The banks and the big retailers will increase their profits and small business owners will have to pay for it out of their family income.
I hope that newsagents are acting on the engagement opportunities which I blogged about here previously.