Royal commission to focus on small business lending as banks troop back to the witness box
Small and medium enterprises are the focus of the next fortnight of hearings, beginning on Monday.
Karen Fairweather of Hoot Cards and Gifts in Melbourne's central business district is looking forward to an examination of merchant fees — the cost of transactions.
"The biggest issue for us is EFPTOS fees. You get charged so much for each transaction, every single time," she said.
Electronic funds transfer at point of sale (EFTPOS) and new tap and go technology can be great for consumers, but tough for retailers who must absorb the cost.
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