We’ve all been caught out when using PayWave or contactless payment in stores, where we think we know how much we’re paying and then a surcharge adds a tiny bit more on that final price.

Well, that’s about to change.

The Government is planning to ban retailers from being able to add surcharges to most in-store card payments.

It follows a decision by the Commerce Commission last week to reduce interchange fees paid by businesses for accepting credit card payments.

So what does this all mean for consumers and business owners… are there more savings that could be made on these fees, or are they a consequence of trying to attract more competition to the market?

Today on The Front Page, Massey University Associate Professor from the School of Accountancy, Economics and Finance, Claire Matthews, is with us to break down what this all means for you.

Follow The Front Page on iHeartRadio, Apple Podcasts, Spotify or wherever you get your podcasts.

You can read more about this and other stories in the New Zealand Herald, online at nzherald.co.nz, or tune in to news bulletins across the NZME network.

Host: Chelsea Daniels
Editor/Producer: Richard Martin
Producer: Ethan Sills

We&rsquo;ve all been caught out when using PayWave or contactless payment in stores, where we think we know how much we&rsquo;re paying and then a surcharge adds a tiny bit more on that final price.
Well, that&rsquo;s about to change.
The Government is planning to ban retailers from being able to add surcharges to most in-store card payments.
It follows a decision by the Commerce Commission last week to reduce interchange fees paid by businesses for accepting credit card payments.
So what does this all mean for consumers and business owners&hellip; are there more savings that could be made on these fees, or are they a consequence of trying to attract more competition to the market?
Today on The Front Page, Massey University Associate Professor from the School of Accountancy, Economics and Finance, Claire Matthews, is with us to break down what this all means for you.
Follow The Front Page on iHeartRadio, Apple Podcasts, Spotify or wherever you get your podcasts.
You can read more about this and other stories in the New Zealand Herald, online at nzherald.co.nz, or tune in to news bulletins across the NZME network.
Host: Chelsea Daniels Editor/Producer: Richard Martin Producer: Ethan Sills

Go beyond the headlines with The Front Page, the New Zealand Herald’s daily news podcast. Each weekday Chelsea Daniels unpacks the stories shaping Aotearoa, from what’s happening in our own backyard to global events shaping our future.

Every episode we speak to leaders, experts, reporters, and those living the story, so you get the full picture. 

Subscribe now so you never miss an episode.

Go beyond the headlines with The Front Page, the New Zealand Herald&rsquo;s daily news podcast. Each weekday Chelsea Daniels unpacks the stories shaping Aotearoa, from what&rsquo;s happening in our own backyard to global events shaping our future.
Every episode we speak to leaders, experts, reporters, and those living the story, so you get the full picture.&nbsp;
Subscribe now so you never miss an episode.

Every day, The Front Page takes you behind the scenes of the biggest story from the New Zealand Herald. Hosted by Damien Venuto

The Front Page

Go beyond the headlines with The Front Page, the New Zealand Herald’s daily news analysis podcast. Each weekday Chelsea Daniels unpacks the stories shaping Aotearoa, from what’s happening in our own backyard to global events shaping our future. Every episode we speak to leaders, experts, reporters, and those living the story, so you get the full picture. Subscribe now so you never miss an episode.

Go beyond the headlines with The Front Page, the New Zealand Herald&rsquo;s daily news analysis podcast. Each weekday Chelsea Daniels unpacks the stories shaping Aotearoa, from what&rsquo;s happening in our own backyard to global events shaping our future. Every episode we speak to leaders, experts, reporters, and those living the story, so you get the full picture. Subscribe now so you never miss an episode.

Contactless payment charges banned - are there more bank fees the Government could get rid of?

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/810b7386-9bd2-42f0-9d4f-b32900458d3b/transcript

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