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Your $5 Coffee Tap: 80 Cents to Banks, OpenPasskey's Full-Payment Fix

Tap for coffee. Banks feast. A Sydney startup's card says no more. Full $5 to the cafe, instantly.

Marcus Rivera Apr 03, 2026 3 min read 4 views

⚡ Key Takeaways

Card taps skim $0.015-$0.04 per $5 coffee to banks and processors—$1.6B yearly in Australia.
OpenPasskey delivers full $5 instantly via EMV + on-chain settlement, already in 20+ Sydney cafes.
RBA surcharge ban helps consumers but bakes costs higher; this startup targets the root.

Written by

Tech journalist covering AI business and enterprise adoption. 10 years in B2B media.

#EMV contactless #OpenPasskey #blockchain payments #payment fees

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Originally reported by dev.to