Westpac NZ has announced it will be supporting small businesses by waiving contactless debit fees for eligible existing customers for six months.
ANZ said it would also be providing free contactless debit transactions for small businesses until the 30th of June.
The move comes after chief executive of Retail New Zealand, Greg Harford, joined other entrepreneurs who called for fees to be removed on contactless payment during the coronavirus outbreak.
Contactless payment allows consumers to pay for items without touching a pin pad. High touch areas such as eftpos terminals are breeding grounds for bacteria and the spread of disease. Contactless payment comes with a fee, however, similar to credit card transactions which is why many small, independent businesses choose not to have a pay-wave option.
Many Kiwis on social media agreed that temporarily waving the fees on contactless payment was a no-brainer when COVID-19 can be spread through a person touching a surface containing the virus and then touching their face.
Westpac NZ General Manager of Experience Hub, Karen Silk, said the bank recognised the increased demand from both consumers and businesses for contactless services in the current environment.
“We’re working hard to help people affected by Covid-19 and this is one way we can offer some relief,” explained Silk.
“Businesses who are concerned about the impacts of Covid-19 should contact us as soon as possible on 0800 606 606 to discuss their options.”
Westpac NZ also announced a relief package that includes options such as a temporary overdraft facility, suspension of principal loan payments for up to three months, and deferred payment on business credit cards.
Silk said Westpac is looking for other ways to help customers & members and will make further announcements soon.
Other banks are yet to announce any fee wavers on contactless payment.
