[With Subtitles] Australians spending up to $4 billion a year in hidden tap-and-go surcharges on Credit Cards alone

Canstar Finance Expert Steve Mickenbecker discusses the clouded future of cash in Australia.

Mr Mickenbecker warned Australians to be aware of the hidden fees attached to cashless payments.

“The problem, of course, is the merchant service fees are not capped,” he told Sky News Australia.

“So, the bank can charge a lot more.

“It’s $4 billion a year roughly – that’s a lot of money, and that’s just the credit cards.”

Source: https://www.youtube.com/watch?v=W_DTx14ahPk