If the Commerce Commission proceed with their planned cuts here I can see the banks here returning to the old days of charging for EFTPOS transactions again.

EFTPOS usage has declined significantly and all the banks are effectively losing money providing the service. It's essentially being cross subsidised by income from interchange.

It’s a bit like ATM networks. The move 10ish years ago to make all transactions free and significant decline in use has meant huge losses in providing the ATM's so banks have cut numbers significantly. Somebody told me last year that it's not uncommon for most ATM's to be costing banks well $100K per month by the time they cover leases and operating costs incl costs to refill them.