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

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

With a straight down the middle approach, Heather du Plessis-Allan Drive on Newstalk ZB delivers the very latest news and views to New Zealanders as they wrap up their day.

Heather du Plessis-Allan Drive

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/9942e169-3003-467d-b876-b3280076a4c7/transcript