Following an announcement from the Commerce Commission, the Restaurant Association has supported interchange cap fees.
The Restaurant Association has welcomed the Commerce Commission’s draft decision to cap interchange fees for both in-person and online card transactions.
This decision has been viewed by the association as 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 percent for domestic cards and 0.6 percent for foreign cards, while online transactions will see caps of 0.4 percent for domestic cards and 1.15 percent 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,” said Marisa Bidois, CEO of the Restaurant Association.
“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,” added Bidois.
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.
This has followed recent changes to Accredited Employer Work Visas, another positive step forward, according to the Restaurant Association.
Bidois said It was encouraging to see that work on streamlining the job check stage was still underway.
“This is one of the most pressing areas for hospitality employers, and we look forward to seeing solutions in place that reduce costs, simplify processes, and incorporate initiatives like the HospoCred accreditation programme to support accredited employers.”
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