Proposed change to debit card transactions could cost customers more

A big change to debit cards could end up costing customers more when they shop and change how cash is accessed.

The Reserve Bank is proposing that medium and smaller banks will no longer have to include an EFTPOS option.

"The impact for small business is that the cost of payments will go up, most likely, and consumers will have less services available to them," Stephen Benton from EFTPOS told 9News.

The Reserve Bank is suggesting that only the big four banks will have to offer EFTPOS alongside one of the international credit companies on their cards.

That means smaller banks and lenders could choose to eliminate the EFTPOS option to save their own costs.

The Reserve Bank proposal is up for discussion until July 9.