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

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

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/1c38f0aa-39dc-4d47-9fcf-b24b0063a734/transcript

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