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PayWave fee cap necessary for consumers - expert

Author
Newstalk ZB,
Publish Date
Tue, 23 Jul 2024, 8:18pm
New Zealand retailers are forced to pay nearly twice as much as Australian counterparts. Photo / File
New Zealand retailers are forced to pay nearly twice as much as Australian counterparts. Photo / File

PayWave fee cap necessary for consumers - expert

Author
Newstalk ZB,
Publish Date
Tue, 23 Jul 2024, 8:18pm

One expert has voiced approval with the Commerce Commission's plan to regulate PayWave and online credit card fees.

The watchdog says capped fees could save Kiwis $250 million dollars, from the $1 billion a year they spend in-store and online. 

Infometrics Principal Economist Brad Olsen says these changes are neceesary.

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