The Mike Hosking Breakfast •
iHeart

John Small: Commerce Commission Chair on the draft decision to reduce card payment fees for businesses - The Mike Hosking Breakfast

The Mike Hosking Breakfast

The Commerce Commission has issued a draft decision to reduce fees for businesses accepting card payments. 

It's proposing an estimated reduction of around $260 million a year where costs are handed down from banks to process payments. 

The commission revealed in July that businesses incur $1 billion in fees to provide card payments. 

Chair Dr John Small told Heather du Plessis-Allan a few will be annoyed by it, but it's important they strike a balance. 

He says they've consulted widely on it and believe they're at a point where they can simplify these rates and bring them down. 

LISTEN ABOVE  

See omnystudio.com/listener for privacy information.

Read more
00:0000:00
John Small: Commerce Commission Chair on the draft decision to reduce card payment fees for businesses - The Mike Hosking Breakfast