Retailers reel from merchant fee mess

"This is a high priority for me," says Minister Andrew Bayly. (Image: Sylvie Whinray)

Wed, 30 Oct 2024

Australian plans to ban debit card surcharges have reignited hopes that New Zealand may be closer to eliminating consumers' quotidian irritant: pay surcharges. Optimism was compounded on Tuesday when the Bank of New Zealand (BNZ) announced it had backed NZ fintech Centrapay’s Payap, a new lower-cost, contactless payment method. Both developments were watched by NZ’s retailers, who are frustrated by the retail payment system, which is currently under review by the Commerce Commission.ComCom found the current system lead...

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