Latest news with #MickKeogh
Sky News AU
28-04-2025
- Business
- Sky News AU
ACCC warn businesses on excessive surcharges
Australia's consumer watchdog is urging businesses to review their card payment surcharges to make sure they are in line with consumer law. In a statement, the ACCC urged businesses to check they have adequate disclosures upfront so customers can make informed decisions prior to purchases. A card payment surcharge is usually considered excessive if it is higher than the businesses cost of acceptance. 'Businesses need to ensure their customers know about any card payment surcharges upfront, and that they are only charging what it costs them to accept those card payments,' ACCC Deputy Chair Mick Keogh said. Australian Consumer Law prohibits businesses from misleading people about the prices they charge. This means if a business's total charges including merchant services fee and all other permissible costs is 1 per cent and they choose to charge a card payment surcharge, then they can only apply a 1 per cent charge to customers. The consumer watchdog said they were looking to educate businesses to help them meet their obligations. 'We understand that small businesses need to be across a lot of information to comply with all of the laws that apply to their business, however, charging excessive surcharges and not being upfront with customers about pricing can result in small businesses losing customers,' Mr Keogh said. The ACCC urges businesses to check with their bank, accountant or business adviser if they are unsure what their cost of acceptance is. 'It is important for small businesses to ensure they understand their obligations and check their costs of acceptance to know what amounts they can legally charge their customers as a payment surcharge, as well as reviewing how they inform customers of their prices, including any applicable surcharges.' Originally published as 'Misleading': ACCC warns businesses on excessive charges
News.com.au
28-04-2025
- Business
- News.com.au
‘Misleading': ACCC warns businesses on excessive charges
Australia's consumer watchdog is urging businesses to review their card payment surcharges to make sure they are in line with consumer law. In a statement, the ACCC urged businesses to check they have adequate disclosures upfront so customers can make informed decisions prior to purchases. A card payment surcharge is usually considered excessive if it is higher than the businesses cost of acceptance. 'Businesses need to ensure their customers know about any card payment surcharges upfront, and that they are only charging what it costs them to accept those card payments,' ACCC Deputy Chair Mick Keogh said. Australian Consumer Law prohibits businesses from misleading people about the prices they charge. This means if a business's total charges including merchant services fee and all other permissible costs is 1 per cent and they choose to charge a card payment surcharge, then they can only apply a 1 per cent charge to customers. The consumer watchdog said they were looking to educate businesses to help them meet their obligations. 'We understand that small businesses need to be across a lot of information to comply with all of the laws that apply to their business, however, charging excessive surcharges and not being upfront with customers about pricing can result in small businesses losing customers,' Mr Keogh said. The ACCC urges businesses to check with their bank, accountant or business adviser if they are unsure what their cost of acceptance is. 'It is important for small businesses to ensure they understand their obligations and check their costs of acceptance to know what amounts they can legally charge their customers as a payment surcharge, as well as reviewing how they inform customers of their prices, including any applicable surcharges.'
Perth Now
28-04-2025
- Business
- Perth Now
Watchdog takes aim at excessive surcharges
Australia's consumer watchdog is urging businesses to review their card payment surcharges to make sure they are in line with consumer law. In a statement, the ACCC urged businesses to check they have adequate disclosures upfront so customers can make informed decisions prior to purchases. A card payment surcharge is usually considered excessive if it is higher than the businesses cost of acceptance. 'Businesses need to ensure their customers know about any card payment surcharges upfront, and that they are only charging what it costs them to accept those card payments,' ACCC Deputy Chair Mick Keogh said. The ACCC tells businesses to be upfront with their fees. NewsWire / Gaye Gerard Credit: News Corp Australia Australian Consumer Law prohibits businesses from misleading people about the prices they charge. This means if a business's total charges including merchant services fee and all other permissible costs is 1 per cent and they choose to charge a card payment surcharge, then they can only apply a 1 per cent charge to customers. The consumer watchdog said they were looking to educate businesses to help them meet their obligations. Businesses are urged to check the fees they are charging customers NewsWire / Emma Brasier Credit: News Corp Australia 'We understand that small businesses need to be across a lot of information to comply with all of the laws that apply to their business, however, charging excessive surcharges and not being upfront with customers about pricing can result in small businesses losing customers,' Mr Keogh said. The ACCC urges businesses to check with their bank, accountant or business adviser if they are unsure what their cost of acceptance is. 'It is important for small businesses to ensure they understand their obligations and check their costs of acceptance to know what amounts they can legally charge their customers as a payment surcharge, as well as reviewing how they inform customers of their prices, including any applicable surcharges.'
West Australian
28-04-2025
- Business
- West Australian
‘Misleading': ACCC warns businesses on excessive charges
Australia's consumer watchdog is urging businesses to review their card payment surcharges to make sure they are in line with consumer law. In a statement, the ACCC urged businesses to check they have adequate disclosures upfront so customers can make informed decisions prior to purchases. A card payment surcharge is usually considered excessive if it is higher than the businesses cost of acceptance. 'Businesses need to ensure their customers know about any card payment surcharges upfront, and that they are only charging what it costs them to accept those card payments,' ACCC Deputy Chair Mick Keogh said. The ACCC tells businesses to be upfront with their fees. NewsWire / Gaye Gerard Credit: News Corp Australia Australian Consumer Law prohibits businesses from misleading people about the prices they charge. This means if a business's total charges including merchant services fee and all other permissible costs is 1 per cent and they choose to charge a card payment surcharge, then they can only apply a 1 per cent charge to customers. The consumer watchdog said they were looking to educate businesses to help them meet their obligations. Businesses are urged to check the fees they are charging customers NewsWire / Emma Brasier Credit: News Corp Australia 'We understand that small businesses need to be across a lot of information to comply with all of the laws that apply to their business, however, charging excessive surcharges and not being upfront with customers about pricing can result in small businesses losing customers,' Mr Keogh said. The ACCC urges businesses to check with their bank, accountant or business adviser if they are unsure what their cost of acceptance is. 'It is important for small businesses to ensure they understand their obligations and check their costs of acceptance to know what amounts they can legally charge their customers as a payment surcharge, as well as reviewing how they inform customers of their prices, including any applicable surcharges.'
Yahoo
24-03-2025
- Business
- Yahoo
ACCC proposes reforms to boost supermarket competition and fairness
The Australian Competition and Consumer Commission (ACCC) has concluded its investigation into the supermarket industry, issuing 20 recommendations to enhance market competition. The inquiry revealed that ALDI, Coles and Woolworths rank high in profitability compared to international counterparts, with a noted rise in average product margins over the five fiscal years up to 2025. The ACCC estimates that Woolworths holds 38% of the national supermarket grocery market, Coles has 29%, ALDI accounts for 9% and Metcash, representing the independent supermarkets it supplies, has 7%. The proposed measures encompass initiatives such as implementing more transparent pricing strategies, increasing supplier transparency and modifying existing planning and zoning regulations. These steps are intended to foster a more competitive landscape within the supermarket sector, benefit consumers and provide suppliers with more equitable negotiation terms. ACCC deputy chair Mick Keogh stated: 'In the past 12 months, the ACCC has heard from more than 20,000 consumers who responded to our consumer survey, received more than 100 public submissions, held eight supplier roundtables, reviewed tens of thousands of internal documents, conducted private hearings and ten days of public hearings, and analysed billions of points of supermarket data.' The 20 recommendations made in the final report for the ACCC's supermarkets inquiry are: It's essential for governments to explore backing for locally-owned shops in areas with limited options, especially those that are remote, while ensuring proper oversight. It should be mandatory for supermarkets to disclose their pricing data. Legislative action is needed to tackle issues related to urban planning and land use regulation. Supermarkets ought to meet baseline requirements for sharing information about promotional discounts, along with maintaining records. ACCC supports the consultation initiative by the Australian government regarding amendments to the Unit Pricing Code. There should be an obligation for supermarkets to alert consumers when there is a reduction in product size that negatively impacts them. Coles and Woolworths need to periodically provide their loyalty programme members with summaries of their data practices. Loyalty schemes should undergo an evaluation after three years. ACCC advocates for improved processes for handling consumer complaints in isolated areas. Supermarkets must adhere to fundamental safeguards outlined in the Food and Grocery Code without exception. There is a need for uniformity in standards for accreditation and auditing. ALDI, Coles and Woolworths must supply their fresh produce vendors with comprehensive projections of their supply needs. These supermarkets also need to offer more clarity on their weekly bidding procedures that determine price and quantity agreements with suppliers. There should be more openness concerning the wholesale prices of fresh produce at supermarkets. ALDI, Coles and Woolworths must not have the authority to single-handedly cut agreed-upon prices or quantities of wholesale fresh produce. Transparency is crucial for farmers who sell their produce via middlemen. Producers supplying supermarket-branded fresh goods should receive prompt confirmation of orders from retailers. Producers must have the option to label their own fresh goods. The disclosure regarding rebates paid by suppliers to supermarkets needs to be clearer. Finally, Coles and Woolworths should elucidate how they use contributions from suppliers towards their proprietary retail media services. In February 2025, ACCC chair Gina Cass-Gottlieb outlined the agency's commitment to make retail pricing, merger reforms and competition challenges its priorities for the fiscal year 2025/26. "ACCC proposes reforms to boost supermarket competition and fairness" was originally created and published by Retail Insight Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
