• Published date: 01 October 2022

This week we take a deep drive in the Retail Payment Act, which will reduce merchant service fees

The Government expects fees will reduce by $74m in a year. However, the Tauranga Chamber boss says the charges are ‘‘unjustifiably excessive’’ and one cafe paid $1000 one month, for contactless payments.

The contactless way customers like to pay for goods and services has also rocketed and there are increased reports of people using smart phones and watches to complete their transactions.

Our weekly columnist Mark Lister from Craigs Investment...