Credit card company Visa is calling for a ban on the surcharge fee some merchants charge card-paying consumers at the point of sale.

The Commerce Commission was undertaking a review of card charges, and considering cutting the regulated interchange fee card companies can charge banks by as much as 75 percent, for example.

Card interchange fees were in turn passed on by banks to merchants at whatever rate the merchant can negotiate, meaning that some pay much more than others.

  • Dave@lemmy.nzOPM
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    7 days ago

    If someone wants to pay a merchant with $1 or $2 coins, they can only pay up to $100 worth of $1 and $2 coins.

    Ah, that answers my question about paying off the mortgage.