Exorbitant credit card surcharges could soon be a thing of the past.
The financial services inquiry led by David Murray is reportedly calling for a ban on all outrageous surcharges on credit and debit card transactions.
Instead, retailers would be limited to 12¢ or 0.5 per cent of the transaction value.
Many now charge 2 or 3 per cent on top of the purchase price if customers pay with a credit card.
Treasurer Joe Hockey said recommendations around the payments system are more likely to be matters for independent regulators APRA and the Reserve Bank.
The Murray inquiry will be released publicly on Sunday.
Mr Murray, a former chief of the Commonwealth Bank and head of the Future Fund, and his team have been working on the inquiry for almost a year.
They have received more than 6500 submissions since their interim report, 5000 of which touched on the issue of credit card surcharges.
Consumer advocate Choice says businesses, particularly in hospitality and the entertainment industry, have long been gouging consumers.
"Consider that on a flight you're not just paying by transaction, $7 or $8, you're paying per passenger," spokesman Tom Godfrey said.
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