In a submission to the reserve bank, MasterCard says that some retailers are gouging on fees they charge shoppers for using their MasterCard. The Australian has the story today.
While I am not concerned if the reserve Bank does introduce a cap on what we can charge for the use of a MasterCard or Visa card, it galls me that MasterCard takes a swipe at us without talking about they fees they charge retailers.
Losing margin is this tight retail marketplace is a cost any business would want to avoid. MasterCard should look at what it charges retailers before pointing the finger at us in complaining to the Reserve Bank. In addition to the margin cost of their fees, there is the administrative cost associated with accounting for this method of payment.
Maybe retailers could fight back with a sales counter based campaign against the MasterCard submission.