The Commerce and Consumer Affairs Minister is not sharing the same fears as retailers over the surcharge ban.

Scott Simpson says the legislation banning surcharges like PayWave is before the Select Committee and will be in place by next year. 

36 business associations have written a letter warning the ban could be passed on through increased prices.

Simpson says a lot of businesses don't use surcharges - so won't be impacted or need to raise prices.

"The ones that choose to add that pricing in will be actually competitively constrained in the marketplace by those businesses that choose not to do so."

LISTEN ABOVE

The podcasts in the SME Stream contain general information only, not financial or professional advice. Any opinions expressed in the podcasts are not necessarily shared by BNZ, or its related entities. BNZ is not liable for any losses resulting from the content of the podcasts. 

The Commerce and Consumer Affairs Minister is not sharing the same fears as retailers over the surcharge ban.
Scott Simpson says the legislation banning surcharges like PayWave is before the Select Committee and will be in place by next year.&nbsp;
36 business associations have written a letter warning the ban could be passed on through increased prices.
Simpson says a lot of businesses don't use surcharges - so won't be impacted or need to raise prices.
"The ones that choose to add that pricing in will be actually competitively constrained in the marketplace by those businesses that choose not to do so."
LISTEN ABOVE
The podcasts in the SME Stream contain&nbsp;general information only, not financial&nbsp;or professional advice. Any opinions expressed in the podcasts are not necessarily shared by BNZ, or its related entities. BNZ is not liable for any losses resulting from the content of the podcasts.&nbsp;

Looking for actionable business insights all in one place? 

We're here to help you find a way with a curation of the ‘best bits’ from top business podcasts. 

Save time searching; subscribe to the SME Stream where you can listen to relevant, timely, business-related content today. 

 

Looking for actionable business insights all in one place? 
We're here to help you find a way with a curation of the &lsquo;best bits&rsquo; from top business podcasts. 
Save time searching; subscribe to the SME Stream where you can listen to relevant, timely, business-related content today.&nbsp;
&nbsp;