Why is our doctor, dentist and audiologist charging an extra 2% for credit card payments?
The Retail Payment System Act was passed in May 2022.
That legislation was particularly popular in Parliament, passing with the support of every party but Act.
Minister Clark said it was “unfair that retailers, especially small retailers, have been constantly stung with high fees for offering services they need to survive”.
Merchant service fees are the fees paid by retailers to accept credit cards and some debit card payments.
Many shops choose to pass this fee on to consumers for using credit cards or payWave, resulting in higher prices.
It is hoped that this practice will end, or the passed-on fees will be lower, thanks to the legislation.
The cap on credit interchange fees is set at 0.8 per cent, in line with fees charged in Australia.
The legislation also caps fees for online debit transactions at 0.6 per cent.
www.nzherald.co.nz....
Caring For You Like Family
91-year-old Dora is a rest home resident at Ryman.
Between family gatherings, bus trips and village activities, she certainly enjoys a full life. With the many friendships she’s made, the caregivers and village staff have become an extension of her family.
Hear about Dora’s experience living in a Ryman community.
Share your New Zealand music memories...
It's NZ Music Month and New Zealand really has some beautiful songs from artists that we call our own.
Whether it's April Sun in Cuba, Don't Forget your Roots, or How Bizarre or Bic Runga's 'Sway' - songs have a way of unlocking memories and evoking old feelings.
In honour of NZ Music Month, share a New Zealand song or artist that is special to you and explain why.
Type 'Not For Print' if you wish your comments to be excluded from the Conversations column of your local paper.
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