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Page 215 - நுகர்வோர் வாழ்க்கைத்தொழில்கள் News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Government to cap bank interchange fees for businesses in new law

Government to cap bank interchange fees for businesses in new law © Getty A woman using credit card for contactless payment The government is introducing regulations to reduce the fees banks charge businesses when customers use credit or debit cards. The Commerce Commission will also be given powers to regulate and monitor the retail payments system. There will also be a disclosure and reporting requirement to enable this. In a statement, Commerce and Consumer Affairs Minister David Clark said a Retail Payments Systems Bill would be introduced later this year. The high cost of these fees puts added financial pressure on businesses at a time when they are dealing with the economic impacts of Covid-19.

New Innovations To Fuel The Future Of NZ s Food, Fibre And Agritech Sector

Wednesday, 12 May 2021, 1:25 pm A range of radical solutions are now a step closer to boosting the agricultural sector thanks to the Food, Fibre and Agritech Supernode Challenge. Prize winners were named at the Showcase on 11 May. Clarospec, a tool to measure lamb product quality, from AgResearch was the overall winner in the On-Farm Systems category and took out the Research grand prize. KarbenFibre, an environmentally friendly battery technology to optimise and reduce the cost of flow batteries using natural fibres was named overall winner in the Value-Added Product category and runner-up in the Research category.     The grand prize in Enterprise was won by Genesmith with their

Widespread paywave possible under new legislation

Widespread paywave possible under new legislation © Hands of cafe visitor holding credit card and putting it to the card payment machine The no paywave sign may soon become a thing of the past - as new legislation to regulate transaction charges is announced. Caps will be set on the amount banks can charge retailers for credit and debit payments. Lowering these fees is expected to save businesses $74 million a year - with the hopes the savings will be passed on to consumers. The Shucker Brothers and Island Gelato co-owner Geoff Tippett said any reduction in merchant service fees will be a relief.

New Zealand gov t to deliver lower card fees to business - World News

2021-05-12 05:36:01 GMT2021-05-12 13:36:01(Beijing Time) Xinhua English WELLINGTON, May 12 (Xinhua) The New Zealand government moves to reduce merchant service fees, estimated to save New Zealand businesses approximately 74 million NZ dollars (53.6 million U.S. dollars) each year. Businesses merchant service fees are charged by banks when customers use a credit or debit card to pay. Pre COVID, EFTPOS has been the main way Kiwis pay for goods and services, and this is fees-free for retailers. Increasingly, however, consumers are favoring contactless debit and credit cards, Commerce and Consumer Affairs Minister David Clark said in a statement on Wednesday.

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