Paywave/Contactless transactions fees

The Mutual banking industry which Firefighters Credit Co-operative is a part of, has been made aware that Coles and Wesfarmers (excluding Bunnings) have started to roll out software changes on their merchant terminals from 1 October 2019. This change will process paywave debit card transactions via the eftpos network instead of Visa network.

This is a cost saving measure on their behalf. Our members paywave transactions processed through these company outlets will now be counted as eftpos transactions, where there is a limit on the number of free transactions, rather than Visa transactions, which have no limit on free transactions. Refer our fees and charges.

If you require any further information about this please contact the office on 03 8417 1777.

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