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Podcast: The Front Page
Episode: Contactless payment charges banned - are there more bank fees the Government could get rid of?
Description: We’ve all been caught out when using PayWave or contactless payment in stores, where we think we know how much we’re paying and then a surcharge adds a tiny bit more on that final price. Well, that’s about to change. The Government is planning to ban retailers from being able to add surcharges to most in-store card payments. It follows a decision by the Commerce Commission last week to reduce interchange fees paid by businesses for accepting credit card payments. So what does this all mean for consumers and bu...