Acquirers Must Publish Their Fee Tables by Friday: What the RBA's First Transparency Release Tells Merchants

On Friday, 30 October 2026, Australia’s first quarterly payment fee transparency data is due to be published. For small businesses, this is more than a regulatory milestone: it is the first opportunity to compare merchant service fees from large acquirers against figures broken down by merchant size and card type.

The release follows the Reserve Bank of Australia’s (RBA) Review of Merchant Card Payment Costs and Surcharging, published on 31 March 2026. It comes after domestic interchange changes and the removal of card surcharges took effect on 1 October. Those changes make it more important for merchants to understand what they pay to accept payments.

The RBA estimates that consumers paid $1.6 billion of the $1.8 billion in annual card surcharges. It also expects issuer interchange revenue to fall by about $660 million a year. These figures describe changes to the payments system, not a guaranteed saving on any individual merchant’s bill. The new data should help businesses ask better questions about their own payment processing fees.

What will be published on 30 October?

Designated card networks must publish quarterly aggregate information on interchange fees, acquiring scheme fees and rebates, and issuing scheme fees and rebates. The RBA’s Appendix C sets out these requirements in Tables 15 to 20.

The figures will be broken down by card type, card present and card not present transactions, tokenised transactions, and domestic and foreign issued cards. The first publication covers 1 July to 30 September 2026. Later quarterly releases are due within 30 days of each quarter’s end. The RBA will also republish the network and acquirer data on its own website.

Large acquirers must publish their merchant service fees as a percentage of card transaction value. Their tables must distinguish between all direct merchants, small merchants processing $1 million or less annually, and medium sized merchants processing more than $1 million and up to $10 million. Within those groups, fees are separated by card type and channel, including domestic debit and prepaid, domestic credit, and foreign debit, prepaid and credit.

The result is a much more useful benchmark than a single blended figure. A small retailer will be able to look for an average for businesses in its size band and compare the relevant transaction categories, rather than relying only on a market wide average.

A benchmark is not an individual quote

The first publication will not reveal the precise rate charged to every merchant, nor will an average determine whether a particular provider’s offer is right for your business. Pricing depends on transaction mix, business arrangements and the services included in a provider’s offer.

Treat the tables as a benchmark and a starting point for a conversation. Compare like with like: a business with mostly in person domestic debit transactions should not compare its blended rate with a benchmark dominated by online credit or foreign issued card payments.

This matters especially for small businesses. The RBA says 85 per cent of small merchants do not surcharge. It also notes that acquirers specialising in small merchants currently tend to provide the least information on merchant statements. The new tables, together with clearer statements over time, should help merchants prepare more accurate requests for quotes.

For broader context, read Quantum Payments’ analysis of why visibility is the next payment cost problem after the surcharge ban, and our coverage of network choice and why a fee cut is not automatic.

The interchange changes make follow through important

From 1 October 2026, the domestic consumer credit interchange cap changed to 0.3 per cent. Debit and prepaid caps changed to 8 cents and 0.16 per cent. The commercial credit cap remains 0.8 per cent. A 1.0 per cent cap for foreign issued cards acquired in Australia begins on 1 April 2027.

Lower interchange does not automatically mean an equal reduction in a merchant’s total service fee. Acquirer pricing and other parts of payment acceptance costs still matter. That is why large acquirers will also have to publish an interchange pass through measure for four quarters after the 1 October changes.

The measure compares the change in average merchant service fees with the change in average interchange fees, multiplied by 100. It uses 1 July to 30 September 2026 as the reference period. The first measure is due by 30 January 2027, followed by publications due on 30 April, 30 July and 30 October 2027. Acquirers must keep the data on their websites until 30 September 2028.

Merchant checklist: turn the data into action

Merchant statements are changing too

The new statement requirements call for clearer information by network, channel and card type, including transaction value, transaction count, merchant service fee in dollars and as a percentage, and domestic versus foreign issued cards.

Although the changes take effect on 1 October 2026, a transition period applies. Statements issued between 1 October 2026 and 31 March 2027 may comply with either the old or the new requirements. Full compliance is required from the first full statement period after 1 April 2027. Financial year statements do not need to meet the new requirements until the 2027/28 financial year.

Until then, use the information you have. The more clearly you can describe your transaction mix, the more useful your provider comparisons will be. Quantum Payments has also examined how acquirer performance differences can affect merchant outcomes.

Frequently asked questions

What is being published on 30 October 2026?

Designated networks will publish aggregate interchange, scheme fee and rebate data. Large acquirers will publish merchant service fee averages for the July to September quarter, broken down by merchant size and transaction category. The RBA will republish the data on its website.

Who has to publish the data?

Designated card networks and large acquirers. A large acquirer is one that processed more than $10 billion in eftpos, Mastercard and Visa transactions directly on behalf of merchants for the designated networks during the previous 12 months.

Does this apply to payment facilitators and small acquirers?

Payment facilitator transactions are excluded from the large acquirer threshold unless the facilitator is a related entity. Self acquired transactions are also excluded. Acquirers below the $10 billion threshold are not required to publish the large acquirer fee tables. However, acquirers have separate obligations to provide required statement information to direct and indirect merchants.

What should merchants do with the data?

Use it to benchmark your fees against the relevant merchant size and transaction categories. Check your statement, then request comparable, itemised quotes if your costs appear high. An average is a prompt to investigate, not proof that a specific rate is unreasonable.

The strategic takeaway

The first publication gives small merchants something they have largely lacked: a public benchmark for merchant service fees from large acquirers that reflects merchant size and card type. Its value will depend on how carefully businesses compare that data with their own statements and transaction mix.

With card surcharges removed and interchange settings changed, payment costs need closer attention, not less. Start with your latest statement, use the new tables to benchmark your position, and track the pass through data as it arrives.

Authoritative RBA sources

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