On Tuesday the RBA Payments Systems Board announced it believes surcharging is now no longer in the public interest.
Credit and debit surcharges haven't been banned yet, but the RBA is now likely to lift the current restrictions on "no surcharge" rules.
Possibly eliminating surcharges hasn't been universally welcomed, but Professor Worthington said he was "delighted" by the announcement.
"My pitch on this...was, 'the price you see will be the price that you pay'," he told the Savings Tip Jar podcast.
"Sometimes we don't see the surcharges until we look at our [credit or debit] statements."
Interchange fees under microscope
One of the biggest concerns that's been raised about a possible surcharge ban is that it will end up just meaning prices increase.
There will still be costs involved with processing card transactions, and some smaller businesses have suggested eliminating surcharges would just mean these costs are instead reflected in prices.
Another of the RBA's recommendations was to lower the cap on 'interchange fees' - what banks charge one another for processing card transactions.
Ben Zyl, Country Lead Australia at fintech Banked, said appropriate regulation on interchange fees would "ensure that banks aren't just issuing platinum debit cards for the sake of it as a way to justify higher fees."
Mr Zyl said banning surcharges could also be a "line in the sand moment" for account to account payments in Australia to enter the mainstream.
This would mean customers are able to pay for things without using their card - think platforms like Osko.
Costs could come down for both merchant and consumer, not to mention eliminating the risk of card fraud.
"Australian merchants have an opportunity to rein in their costs but they need to be prepared to take a leap by adopting a better system and...educating the consumer appropriately so they're aware a card free alternative exists," he said.
Another step to cashless society?
The other big criticism of banning surcharges is that it would punish Australians that still pay with cash.
"A ban on card surcharges threatens to lumber all of us with additional hidden fees and charges," cash advocate Jason Bryce said last year.
"[It] effectively means that costs are absorbed into all retail prices and paid for by all consumers, including people who pay with cash."
Mr Worthington however pointed out for many businesses, it's actually more expensive when customers pay with cash.
"You have to have a float in the morning when you open up...[have to] make sure that the money stays in the till and doesn't disappear in the daytime, then you count the money at the end of the day and...put the money into a secure place," he told the podcast.
"It's a lot of time, a lot of energy and a lot of costs."
Picture by Dan Burton on Unsplash
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