Australians urged to ‘be aware’ of hidden fees in tap-and-go payments

Canstar Finance Expert Steve Mickenbecker urges Australians to “be aware” of hidden fees when making cashless payments. Mr Mickenbecker pointed out fees attached to credit cards are “significantly higher” than debit cards. “When you use a payment system run by one of the banks … you pay fees,” he told Sky News Australia. “The retailer pays a merchant service fee, and you always will pay a fee. “Now, there are tricks in it because debit fees are lower than credit fees – if you go through a merchant system that is linked by Mastercard or Visa, then you will be paying the credit card fee.”