Regulating to reduce merchant service fees

Last updated: April 27, 2021

Economy

Regulating to reduce merchant service fees

Published: April 27, 2021

Stage: Ongoing

Priority: Medium

Issue for Business: BusinessNZ has previously submitted to the Government on this issue in 2016/17 when they undertook a review of retail payment systems in New Zealand. Our current submission takes a similar line to the recommendations made previously. While we believe there is scope for changes to merchant service fees, we want the Government to ensure they are taking the appropriate regulatory steps that do not lead to regulatory overreach, particularly in light of technological innovation in this space.

Action: BusinessNZ submitted on the discussion paper and will be meeting with officials around next steps.

Outcome: Further consultation is expected in the first half of 2021

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