Fee building blocks, pricing models and 2026 rules
Reading your merchant statement: the 2026 fee transparency rules explained
What merchant statements must show from October 2026 and April 2027, the fee data large acquirers and card networks must publish, and how to use it to check your own rates.
New RBA merchant statement rules took effect on 1 October 2026: every acquirer, including those that serve you through a payment facilitator, must give merchants statements with a minimum set of information: card type, channel, network, the value and number of transactions, and the merchant service fee in dollars and as a percentage. Statements issued until 31 March 2027 can follow either the old or the new rules; the new requirements apply to every statement from the first full statement period starting on or after 1 April 2027. Separately, large acquirers must publish their average merchant fees, including a figure for small merchants, every quarter, with the first due by 30 October 2026, and from 30 January 2027 they must publish how much of the interchange cuts they passed through. Together, these let you compare your own effective rate with a published benchmark for businesses of your size.
This guide belongs to the overview of merchant payment processing fees. It summarises Appendix C of the RBA's Conclusions Paper (March 2026).
What your statement must show
| Field | Why it matters |
|---|---|
| Card type (e.g. debit, credit, prepaid) | Different interchange caps apply to each |
| Channel (in person or online) | Online payments often cost more |
| Network (eftpos, Mastercard, Visa) | Shows whether least-cost routing is working |
| Value and number of transactions | Lets you calculate average sale and fixed-cent effects |
| Merchant service fee in $ and % | Your effective rate by category |
Acquirers can choose the table layout and can add more detail or other networks. Annual statements have no new requirements for the 2026/27 financial year; the updated requirements apply from the 2027/28 financial year.
Payment facilitators. If you are a sub-merchant of a payment facilitator, your acquirer is treated as compliant if its agreement requires the facilitator to give you the information. In practice, ask your provider when its statements will include the new fields.
What gets published, and when
| Who | What | First due | Then |
|---|---|---|---|
| eftpos, Mastercard, Visa | Aggregate interchange, scheme fees and rebates, and volumes, split by card type, domestic/international and in person/online | 30 October 2026 (quarter to 30 September 2026) | Within 30 days of each quarter end |
| Large acquirers (more than $10 billion a year of eftpos, Mastercard and Visa transactions directly for merchants) | Average merchant service fees as a % of transactions for all direct merchants, small merchants (up to $1 million a year) and medium merchants ($1 million to $10 million), by channel, domestic/foreign and debit/credit | 30 October 2026 | Within 30 days of each quarter end |
| Large acquirers | Interchange pass-through measure, rounded to the nearest per cent | 30 January 2027 | 30 April, 30 July and 30 October 2027; kept online until 30 September 2028 |
The RBA said it will republish network and acquirer information. Transactions processed through an unrelated payment facilitator do not count toward the $10 billion threshold, so facilitators themselves are not required to publish these figures.
Worked example: your effective rates by card type
Illustrative statement summary for one month:
| Category | Transactions | Value | Fees | Effective rate |
|---|---|---|---|---|
| eftpos debit, in person | 600 | $18,000 | $54.00 | 0.30% |
| Visa/Mastercard debit, in person | 300 | $9,000 | $40.50 | 0.45% |
| Consumer credit, in person | 250 | $11,000 | $88.00 | 0.80% |
| Foreign cards | 40 | $2,000 | $40.00 | 2.00% |
| Total | 1,190 | $40,000 | $222.50 | 0.56% |
How to read it:
- Effective rate for each line = fees ÷ value. For eftpos: $54 ÷ $18,000 = 0.30%.
- Average sale: $40,000 ÷ 1,190 ≈ $33.61.
- Routing check: a third of in-person debit payments (300 of 900) went to the international network. If those were tapped dual-network cards, ask whether least-cost routing is on.
- Add fixed fees: if rental and account fees are $45, the all-in cost is $267.50, an all-in rate of 0.67%.
- Compare your total and small-merchant figures with the large acquirers' published averages for the same quarter.
Published averages are a reference point, not a target. A business with a high share of debit should be below an average that includes credit-heavy merchants; a tourist business may be above it.
Using the pass-through figures
The interchange pass-through measure shows how much of the 1 October 2026 interchange reduction large acquirers passed on to merchants overall. If your acquirer reports high pass-through but your own rates did not move, ask why. This is especially relevant on flat or blended plans. See interchange caps.
Your statement checklist
- Do you get a statement every month, and can you download transaction-level data?
- Are fees split by card type, network and channel?
- Are terminal rental, gateway, chargeback and compliance fees shown separately?
- Is GST shown, and is the statement a valid tax invoice? See GST on merchant fees.
- Do the totals match your bank deposits after fees? See settlement times.
Frequently asked questions
My statement still looks the same. Is my provider non-compliant?
Not necessarily. Statements issued from 1 October 2026 to 31 March 2027 can follow either the existing or the new rules. Full requirements apply from the first full statement period starting on or after 1 April 2027.
Where do I find the published averages?
On each large acquirer's website and, according to the RBA, republished by the RBA. Search the RBA site for the merchant fee publications.
Does this apply to American Express?
The requirements cover eftpos, Mastercard and Visa transactions. Acquirers may include other networks on statements, but they do not have to.
Sources
- Reserve Bank of Australia — Conclusions Paper (March 2026), Appendix C (Transparency Requirements), Appendix D (Varied Standards) and FAQs
- Federal Register of Legislation — RBA Standard No. 3 of 2016 as varied
- Australian Taxation Office — tax invoice requirements
