Business
Westpac to cut tap-and-go fees for 37,000 merchants – The Australian Financial Review
Westpac said it would reduce contactless debit card fees for small businesses by routing payments via the eftpos network.
It is understood the switch will cost Westpac about $7 million in annual fee income. It will take a few months to make the change, meaning the option should be available for merchants in Melbourne soon after the city emerged from the tough new lockdown.
“We believe that proactively helping our merchant customers is the right thing to do,” said Guil Lima, chief executive of business banking at Westpac.
“Digital payments have soared in recent months as customers shop online more and shun cash, t…
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