Chemist Warehouse introduces QR code payments

Pharmacy giant Chemist Warehouse is introducing a QR code payments system to its online marketplace and 600 stores nationwide.

The new payment method, expected to roll out in early 2025, means customers can use their phones to scan a QR code to transfer money to the retailer.

The system is called “Pay by Bank” and it sidesteps traditional surcharge costs charged by credit and debit card companies like MasterCard and Visa, potentially saving customers and the pharmacy millions in transaction costs.

Transaction fees, extracted every time you tap your card onto a payment machine, are charged by banks and companies like MasterCard and Visa on top of the sale price of a product.

The innovation comes as national debate kicks off around the issue of surcharge costs and their imposition on consumers.

The federal government has flagged potentially banning debit card surcharges and has funnelled an extra $2.1m to the ACCC to investigate excessive surcharges.

“Consumers shouldn’t be punished for using cards or digital payments, and at the same time, small businesses shouldn’t have to pay hefty fees just to get paid themselves,” Treasurer Jim Chalmers said this week.

Chemist Warehouse is a private company with the Chemist Warehouse, MyChemist, Ultra Beauty, My Beauty Spot and Optometrist Warehouse brands.

The company also operates six distribution centres that provide products to its franchisees.

The pharmacy giant could soon merge with ASX-listed Sigma Healthcare in an $8.8bn consolidation deal.

Chemist Warehouse has been contacted for comment.