The Government's recent ban on on payment card surcharges has been met with criticism from the retail and hospitality sectors.

The Government's announced it will scrap extra in-store card fees by next May.

The Commerce Commission has already reduced bank interchange visa and master card fees for businesses.

Dairy and Business Owners Group chair Ankit Bansal says these proposed changes are 'unfair' as the banks can still charge whatever transaction fees they like.

"These will likely have to be passed on to the consumers - the problem is, we would have to do it across the board. So even if someone was paying with cash, one way or another, we're paying for these charges."

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The Government's recent ban on on payment card surcharges has been met with criticism from the retail and hospitality sectors.
The Government's announced it will scrap extra in-store card fees by next May.
The Commerce Commission has already reduced bank interchange visa and master card fees for businesses.
Dairy and Business Owners Group chair Ankit Bansal says these proposed changes are 'unfair' as the banks can still charge whatever transaction fees they like.
"These will likely have to be passed on to the consumers - the problem is, we would have to do it across the board. So even if someone was paying with cash, one way or another, we're paying for these charges."
LISTEN ABOVE

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers. 

Whether you’re a small business owner or interested in what’s going on in the Big End of Town, this podcast encompasses the sharpest voices and minds in the world of business.

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers. Whether you’re a small business owner or interested in what’s going on in the Big End of Town, this podcast encompasses the sharpest voices and minds in the world of business.

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers.

Best of Business

Ankit Bansal: Dairy and Business Owners Group chair on the Government banning in-store card surcharges

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/9b93e816-a50a-41aa-8764-b3280076a3c8/transcript