Aldi v EPAL ruling today
The Federal Court will hand down its judgement this morning in the case brought by retailer Aldi Stores against Eftpos Payments Australia. Aldi claims EPAL made misleading or deceptive statements in press releases issued in August and September that referred to the impact on consumers of changes to its interchange pricing model.Aldi argues that EPAL was aware that at least one large acquiring bank would pass on the increased cost of Eftpos interchange fees to its merchant customers when it issued its August press release saying consumers "should not face" new charges as a result of the changes.Aldi says EPAL must also have known that these increases would be passed on to customers. EPAL's new interchange pricing model, which takes effect from October 1, reverses the flow of interchange payments, so acquiring banks will pay issuing banks for the cost of transaction processing.EPAL has changed the model in the hope that revenue flowing to issuers will encourage them to invest in developing the Eftpos network.But retailers like Aldi face the prospect that acquiring banks will pass their costs on to merchants.