[wulos]

So there are now 2Billion eftpos transactions a year. Given that this "fee" is intended on purchases over $15. Worst case scenario every one of those transactions are over the $15.00 threshold. Doing the sums 2,000,000,000 x 0.05 = 100,000,000 (or at least it was when I went to school) From the article the ABC claims $150mil a year??
5c might not sound like much, but retailers have been using clever pricing strategy since it's inception to maximise on their profits(How many products are rounded UP to the nearest 5c, rather then DOWN?). Whilst this only effects cash purchases, it is still a game of percentages. The cynic in me wonders just how long it will be before the humble 5c piece is removed from circulation.