Is this the end of 'No Paywave' signs? Is this the end of 'No Paywave' signs? Wed, 12 May 2021, 1:58PM The Government is to clamp down on the fees banks charge businesses when people pay by credit or debit cards. Eftpos is free for merchants but its use has been dropping particularly with the Covid-19 pandemic as more people shopped online or used contactless credit or debit cards. The major banks temporarily cut contactless debit card fees to small business customers in late March amid pressure from technology entrepreneurs worried the high cost was putting merchants off using it. Eftpos machines with 'no Paywave' signs could be a thing of the past. Photo / File