the podcast on
Retail NZ is criticising the Commerce Commission's regulatory change to card payment fees.
The Commission today announced new regulations on interchange fees, reducing charges to businesses for taking Visa and Mastercard payments.
Retail NZ Chief Executive Carolyn Young says it's a complex issue - and these changes won't address everything.
"This is one part of the merchant service fee, there's about 5 or 6 fees depending on how you structure your payment portfolio that may cut the merchant service fee. The Commerce Commission has said they won't get that fee down to one percent maximum."
LISTEN ABOVE
Take your Radio, Podcasts and Music with you
Get the iHeart App
Get more of the radio, music and podcasts you love with the FREE iHeartRadio app. Scan the QR code to download now.
Download from the app stores
Stream unlimited music, thousands of radio stations and podcasts all in one app. iHeartRadio is easy to use and all FREE
