Commerce Minister Faafoi ready to regulate credit, debit card interchange fees

Tue, 26 Jun 2018

By Paul McBeth June 26 (BusinessDesk) - Commerce and Consumer Affairs Minister Kris Faafoi is ready to wave the stick of regulation if payments service providers hike the fees they charge retailers, and warned he will do so if those charges increase again. Faafoi told the Payments NZ conference in Auckland he doesn't want to see more increases in interchange fees or merchant service feeds for credit and debit cards, which he says aren't "in the interests of consumers or the wider economy". He said he was encouraged by heavyweights Visa an...

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