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New Zealand Cuts Credit Card Fees, Saves Businesses $90M

7/17/2025

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Summary

Story summary

New Zealand's Commerce Commission is set to slash credit card processing fees, bringing a remarkable $90 million in annual savings for businesses. With interchange fees making up 60% of payment costs, this move could reshape the $1 billion payment landscape. Following a previous cap that saved $160 million since November 2022, the Commission is now eyeing regulations on surcharges next.

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Story summary

New Zealand's Commerce Commission is set to slash credit card processing fees, bringing a remarkable $90 million in annual savings for businesses. With interchange fees making up 60% of payment costs, this move could reshape the $1 billion payment landscape. Following a previous cap that saved $160 million since November 2022, the Commission is now eyeing regulations on surcharges next.