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Retailers set to benefit from new tap-and-go agreements

The Australian economy may be set to save up to $450 million per year if a tentative agreement between the big banks and the Australian Retailers Association on changing how tap-and-go credit card purchases are processed is implemented. Currently, tap-and-go purchases are processed as credit, which incur a higher transaction fee that’s based on a percentage of sales, as opposed to the option of cheque or savings that were offered to customers paying by card previously. The Australian Small Bus