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26 May 2022 14:01
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  •   Home > News > Business

    Covid has accelerated the demand for the use of contactless payments

    Covid has accelerated the demand for the use of contactless payments


    The Retail Payment System Bill, which passed its third reading today, should save New Zealand businesses about 74-million dollars.

    The Bill will see interchange fees for credit cards capped at 0.8 percent, and online debit charged at 0.6 per cent.

    Contactless fees will stay at 0.2 percent or less.

    Retail NZ public affairs and policy advice manager Aimee Hines says the demand has been there since 2018.

    She says they have been advocating for payment changes to remove exchange fees.

    © 2022 Newstalk ZB, NZCity

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