John Small: Commerce Commission Chair on the draft decision to reduce card payment fees for businesses
The Mike Hosking Breakfast · Newstalk ZB
Audio is streamed directly from the publisher (pdst.fm) as published in their RSS feed. Play Podcasts does not host this file. Rights-holders can request removal through the copyright & takedown page.
Show Notes
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.