Customer-facing businesses across both the retail and hospitality sectors are welcoming the Commerce Commission’s investigation into the retail payment system.
Retail NZ and Hospitality New Zealand, who represent thousands of businesses across Aotearoa New Zealand, say retail payments are a contentious area for businesses.
They are joining forces to seek changes in the system, to make it easier for businesses to understand
and enable them to provide better customer experiences.
“Retail NZ has advocated strongly for the Government to take action on retail payments so we’re pleased to see the Commerce Commission has opened a consultation on this issue,” says Retail NZ Chief Executive Carolyn Young.
Hospitality New Zealand Chief Executive Steve Armitage says it is a very complex area for both hospitality and retail businesses to navigate.
“We believe there is an opportunity for consumers to keep more money in their pockets if the system is improved and surcharges are reduced or removed.”
Digital payments involve a broad set of participants, including customers, retail and hospitality businesses, the payment networks processing the transactions, technology companies providing point of sale infrastructure, and the banks that issue cards to their customers and work with retailers.
Hospitality New Zealand and Retail NZ say there is an opportunity to reduce the complexity associated with digital payments and provide clarity around the role of each participant. This includes clarity over the costs associated with payments acceptance.
“Achieving this clarity requires joint action from Retail NZ and Hospitality New Zealand, businesses, banks, payment service providers, the Commerce Commission and other government agencies,” they say.
Retail NZ has already published a Position Statement on Retail Payments, setting out a range of actions needed from the various participants in the system.
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