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By Gareth Vaughan
Shortly after midday on Thursday, a few minutes after two government ministers began a press briefing outlining proposals to regulate merchant service fees, ASB issued a press release. ASB decreases merchant services fees to further support Kiwi businesses, the bank trumpeted.
The short three paragraph release said ASB welcomed the Government s move to consult on merchant service fees, and had immediately implemented a substantial rebate for small and medium sized ASB business customers until the outcome of the consultation is known. Topping it off, the rebate would be backdated to the start of December, ASB said.
However, no where in the release did ASB provide any details whatsoever about the rebate. Asked by interest.co.nz for the details an ASB spokeswoman said: The rebate amount a business customer will receive depends on their transaction volumes and is commercially sensitive.”