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A companion card was an arrangement where one account came with two cards, an American Express card and a partner Visa or Mastercard, often on the same statement. What matters for a business is the network each card actually runs on when it is tapped, because that determines the scheme and the cost of acceptance. If a payment goes through as Amex it is treated as Amex; if it goes through as Visa or Mastercard it follows those rules, including the RBA changes. Amex acceptance is not covered by the RBA surcharging changes, so confirm your current Amex position with your payment provider.
Last updated: 2 July 2026
A companion card arrangement gave a cardholder two physical cards on the one account, typically an American Express card alongside a Visa or Mastercard from the same bank, often billed together. They were popular because the cardholder could earn rewards on the Amex where it was accepted and fall back to the Visa or Mastercard where it was not. Availability of these products has changed over the years, but from a business point of view the label on the front of the card matters less than the network the transaction is processed on.
When a companion card is used, the payment runs on a specific network, and that network sets the scheme rules and the cost of acceptance for that transaction. If the customer pays with the American Express card, it is an Amex transaction and is priced and treated as Amex. If they pay with the paired Visa or Mastercard, it follows the Visa or Mastercard rules, including the RBA interchange and surcharging changes that apply to those networks from 1 October 2026. So the practical rule still matters: identify which network a payment actually went through before assuming which cost or rule applies. Your provider can show how your Amex and scheme transactions are each priced.
Answer a few quick questions. Final eligibility is confirmed from your merchant statement.
Because a companion card can present as either network, the cost you carry depends on how customers choose to pay. From 1 October 2026 surcharging on eftpos, Mastercard and Visa will no longer be permitted, so the cost of the scheme side moves onto your margin. American Express is not covered by that RBA change, though providers including Tyro and Eway have said they will remove Amex surcharging on 1 October 2026, and Eway reports Amex has announced its own change from that date, so confirm the Amex position with your payment provider. Whichever way payments land, the reliable way to manage the cost is to compare your rate across all card types, including Amex, with MerchantRates partner rates as low as 0.89% for businesses that qualify.
Sources: RBA Conclusions Paper media release (mr-26-10) · ACCC card surcharges guidance · Eway: RBA reform response · Tyro: surcharge ban confirmed.
Information current as at 2 July 2026.
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