Ready or not here's Eftpos tax!

New tax is here what retailers are calling the big banks' new "Eftpos tax".
Eftpos begins a new advertising offensive this week to tell us that shoppers "are better off with Eftpos".
But shoppers who use "Australia's favourite way to pay without cash" could soon be subjected to higher prices or even merchant fees for paying with Eftpos.
The company that runs Eftpos, EPAL, has given banks until next month to opt in to its new, higher interchange fee structure.
"Banks are about to start charging for something they previously provided for free," said Jost Stollmann, chief executive of a rival player in the debit-card payment industry, Tyro Payments.
"In fact they supplied this service for less than free: they paid 5c each time someone used Eftpos."
"Now EPAL has reversed that subsidy and created a new 5c fee to acquirers, which will flow through to retailers and merchants."
The Australian Newsagents' Federation say the new Eftpos fee regime will impose fees of up to 21c for each Eftpos transaction, up 110 per cent on existing fees.
"No retailer can negotiate the interchange fee with his bank. The new EPAL regime is all about raising bank fees," the federation says in a new advertising campaign.
"Big banks will slap an extra 10c interchange fee and 1c EPAL scheme fee increase on Eftpos transactions starting October 1, 2011."
This is the first change to Eftpos interchange fees since the debit card payment system was introduced to Australia 23 years ago.
"Cardholders will ultimately pay with higher prices through less competition," the newsagents' group said.
Mr Stollmann said the new fees would benefit big international card companies over Australia's own domestic debit payments system.
"A new Eftpos tax - that's what merchants and people in the industry are calling this," Mr Stollmann said.
"We know banks are under fee pressure in other areas, but I am unable to ascribe a motive as to why they are doing this.
"This will make Eftpos less competitive compared to Visa and Mastercard, and will make Eftpos difficult to offer for some small retailers.
A lot of merchants will simply not offer Eftpos any more."
Business owners are also being slugged by higher bank fees on their loans, accounts and credit cards, according to recent Reserve Bank of Australia data.
"All categories for bank-fee revenue increased for business products, except for deposit accounts due to exception fees (going down)."
Bank fees levied on business loans and credit facilities rose 21 per cent - and by 52 per cent on bank bills for business! OMG!
The big banks maintain families are paying less for banking services than ever.
Australian Bankers' Association chief Steven Munchenberg said average weekly bank fees paid by households fell by $2.13 to $9.73 last year."And households are paying less for banking even though they are using banking services more often," he said. as they should say I.
"Customers are completing more transactions on more accounts, and are buying more products and services from banks. Also, customers are choosing lower-cost accounts."Banks have cut a range of fees on accounts and credit cards, so if you think you are paying too much for banking, call your bank and see if there's a better product which suits the way you want to transact."
Googled EPAL and came up with nothing other than dating site which doesnt fit in with the context of this article. So who runs this? where from? is it a fictional smokescreen, what is going on behind the scenes and in the halls of power? how much more manipulation can those who aspire to greatness or some form of mastery at least in life put up with? why is this still being permitted to happen? is there nobody who can deflect this insanity and mass control?