Mastercard is pushing back against the Commerce Commission's plan to put a cap on credit card fees.

The Commission says regulation for credit and contactless payments could deliver $280 million in savings a year for merchants and consumers. 

But Mastercard New Zealand says the draft decision is disappointing, will undermine competition, and set back the local economy.

Mastercard NZ Country Manager Ruth Riviere says these suggestions by the Commerce Commission will bring down interest in investing in New Zealand.

"We're really clear that there's these unintended consequences of what's being proposed."

LISTEN ABOVE

Mastercard is pushing back against the Commerce Commission's plan to put a cap on credit card fees.
The Commission says regulation for credit and contactless payments could deliver $280 million in savings a year for merchants and consumers.&nbsp;
But Mastercard New Zealand says the draft decision is disappointing, will undermine competition, and set back the local economy.
Mastercard NZ Country Manager Ruth Riviere says these suggestions by the Commerce Commission will bring down interest in investing in New Zealand.
"We're really clear that there's these unintended consequences of what's being proposed."
LISTEN ABOVE

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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

Ruth Riviere: Mastercard New Zealand Country Manager responds to Commerce Commission moving to cap credit card fees

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/2343ff09-8986-493b-a788-b24b0063a63d/transcript

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