Concerns the Commerce Commission's stripping millions from payment system innovation
Concerns the Commerce Commission's stripping millions from payment system innovation
18 July 2025
The regulator's reducing interchange fees on Visa and Mastercard payments for businesses - saving them about 90 million dollars a year.
Typically these costs are passed onto consumers - through surcharges and higher product costs.
But Visa New Zealand Country Manager Anthony Watson says we risk inviting more fraud - and reducing innovation.
He says New Zealand's already lagging behind the rest of the world in payment infrastructure and innovation - and this was an opportunity to ensure investments are going to the right places.
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