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The Restaurant Association welcomes the Commerce Commission’s draft decision to cap interchange fees for both in-person and online card transactions.
This decision is a positive step for the hospitality industry, where businesses have long been burdened by high transaction fees.
Under the proposed changes, in-person transaction fees will be capped at 0.2 per cent for domestic cards and 0.6 per cent for foreign cards, while online transactions will see caps of 0.4 per cent for domestic cards and 1.15 per cent for foreign cards.
“This is welcome news for hospitality operators who have been absorbing these fees to remain competitive or passing them on to customers as surcharges,” says Restaurant Association CEO Marisa Bidois.
“Reducing these costs will provide much-needed relief to businesses and help bring down the overall cost of dining out for customers.”
The Restaurant Association will review the full details of the paper and prepare a submission ahead of the February 18 deadline.
“We also note the Commission’s intention to look into the regulation of surcharges in the future, which is an important next step to ensure transparency and fairness for both businesses and customers,” says Marisa.
The Restaurant Association remains committed to advocating for measures that ease financial pressures on the industry while ensuring dining out remains accessible and affordable for New Zealanders.
