The New Zealand Chambers of Commerce have warned that the Government’s proposed ban on retail payment surcharges risks hitting small businesses with higher costs.

Simon Bridges, CEO of the Auckland Business Chamber, acknowledged that the Government was trying to protect consumers from additional fees - but voiced concerns about what this ban could do for smaller operators.

He says the ban isn't a cost-free exercise - and someone will have to pay the merchant fees. 

"It's either going to be through price hikes that consumers may not appreciate or understand - or it's going to be the poor old SME in areas like retail, hospo, tourism that are going to be having to find a way to pay for it."

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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 New Zealand Chambers of Commerce have warned that the Government&rsquo;s proposed ban on retail payment surcharges risks hitting small businesses with higher costs.
Simon Bridges, CEO of the Auckland Business Chamber, acknowledged that the Government was trying to protect consumers from additional fees - but voiced concerns about what this ban could do for smaller operators.
He says the ban isn't a cost-free exercise - and someone will have to pay the merchant fees.&nbsp;
"It's either going to be through price hikes that consumers may not appreciate or understand - or it's going to be the poor old SME in areas like retail, hospo, tourism that are going to be having to find a way to pay for it."
LISTEN ABOVE
The podcasts in the&nbsp;SME&nbsp;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.

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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;
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