ComCom eyes competition issues in payments systems

ComCom eyes competition issues in payments systems
Tap, tap, go. (Image: Getty)
Paul McBeth
The Commerce Commission wants to find out whether there are barriers to a more competitive retail payments system.The antitrust regulator was tasked with monitoring how the sector operates as part of legislative changes that capped the interchange fees charged for credit and debit card transactions. The Commerce Commission (ComCom) started its monitoring programme in October and released guidance on interchange fee regulation in December.Chair John Small wrote to market participants this month updating them on the regulator’s work program...

More Finance

ComCom will try to bring down PayWave, credit card surcharges
Finance

ComCom will try to bring down PayWave, credit card surcharges

Card industry tried to regulate itself, Govt has tried, now it is ComCom's turn.

Staff reporters 23 Jul 2024
Massive cyber outage cripples banks and other organisations worldwide
Finance

Massive cyber outage cripples banks and other organisations worldwide

A major cybersecurity outage has taken out computer-reliant services

Dileepa Fonseka 19 Jul 2024
Consumers agree on what constitutes fairness: FMA
Finance

Consumers agree on what constitutes fairness: FMA

NZ consumers have a remarkably consistent understanding of fairness, research finds.

Tom Raynel 18 Jul 2024