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Is cash dead in Australia?
(nord.pub)
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The no-surcharge rule in itself won't prevent discounts for cash:
From: https://www.rba.gov.au/payments-and-infrastructure/review-of-retail-payments-regulation/2026-03/conclusions-paper/faqs/#can-businesses-offer-discounts-on-other-payment-methods
Okay, though if this created a resurgence in the cash economy, I think the government would amend the legislation. A lot of companies might not want to deal with the cost/ risk of handling more cash.
Mostly I expect that the highest card surcharge will become the new price and if there is a cash price, it will just be the current price at best. It really looks like it will just mean higher prices for all consumers and less versatility - the biggest rent payment platform owned by Macquarie bank has already stated they just won't accept cards any more.