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Jessica Godfrey: Govt looks to regulate contactless payment fees for retailers - The Mike Hosking Breakfast

The Mike Hosking Breakfast

The Government is looking to change how much Kiwi retailers pay for contactless payment services as it's revealed they pay $13,000 more each year than their Australian counterparts.
Banks generally charge service fees for contactless debit and credit card transactions, something watchdogs have been calling for change over.
The announcement comes after a pre-election promise from the Labour party to look into how much businesses are forced to pay for contactless payment services.
Early in the pandemic response this year, banks temporarily waived fees on contactless transactions and raised the purchase limit from $80 to $200.
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