EFTPOS Payments Australia Limited (ePAL), the company that manages one of Australia’s largest popular debit system, reiterated that its new interchange fees will not be passed directly on to the consumer or retailers.

In a statement, ePAL managing director Bruce Mansfield repeated that the new fee structure, which will see a rise in the fees that the banks on either side of the transaction need to pay, would be no direct charge to either consumer or retailer.

"The changes to EFTPOS include an incentive for retailers to accept EFTPOS for purchases under $15, potentially making minimum EFTPOS amounts a thing of the past, and will not result in any increase in consumer bank fees," he said

Mansfield, said the changes to come into effect later this year affected financial institutions on either side of EFTPOS transactions, and did not involve direct charges to either consumers or retailers.

“For retailers EFTPOS is and will continue to be many times cheaper than other cards. We offer retailers a fair, low-cost debit payment alternative to Visa and MasterCard, and that will remain.

Reforms to EFTPOS fees follow a decision by the Reserve Bank of Australia in 2009 to align standards governing EFTPOS interchange fees with those for Visa and MasterCard debit cards. The RBA has consistently expressed a desire to see stronger competition in debit payments, to promote efficiency and the public interest.