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American Focus > Blog > World News > Credit card fee changes highlight unfair costs
World News

Credit card fee changes highlight unfair costs

Last updated: July 18, 2025 11:15 am
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Credit card fee changes highlight unfair costs
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New Zealanders are still being taken advantage of by credit and debit card surcharges.

The issue was briefly mentioned when Civis raised concerns about misleading price advertising two weeks ago. This week, Civis is diving deeper into the problem of surcharges.

Civis was outraged after being hit with a 3.94% fee for using a credit card online.

While the extra charge for the shuttle bus was small, unjustified fees can quickly add up to significant amounts over time. It’s a matter of principle to speak out against this unfair practice.

Businesses are profiting not from their products or services, but from the additional income generated by their charging practices. This is unacceptable.

Despite guidance from the commission, many businesses continued to overcharge customers following the cap on interchange fees in 2022. The fees for credit cards and online debit card transactions were reduced from up to 2.25% to 0.8% and from up to 1.5% to 0.6%, respectively. Contactless debit card fees remained capped at 0.2%.

Recently, the commission further reduced fees on Visa and Mastercard credit card networks to 0.3% for in-person transactions and 0.7% for online transactions. Debit card fees remained unchanged.

Interchange fees make up a significant portion of businesses’ merchant fees, and despite the previous reductions, consumers did not see the full savings passed on to them. The additional cuts announced this week should lead to further savings for businesses.

It is reasonable for businesses to pass on fees to customers, especially considering the significant savings they are now benefiting from. However, customers should be informed of any surcharges before payment and provided with alternative payment methods that do not incur additional fees.

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The commission expects sellers to offer at least one payment method without a surcharge and to keep surcharges below certain percentages for other payment methods. Regulation may be necessary to enforce these guidelines, as businesses often ignore them.

The commission has received numerous inquiries about surcharging and is considering taking further action to ensure fair practices are followed. Banks and credit card companies have been held accountable for their fees, and it’s time for retailers to do the same.

High interchange fees have been a lucrative source of income for banks and credit card companies, but with recent reductions, more changes are expected in the industry. Merchants are advised to calculate fair surcharges and to avoid applying fees to payment methods that do not incur costs.

It’s time for a fair and transparent approach to surcharging, and consumers should not have to bear the brunt of excessive fees. Businesses must be held accountable for their practices, and regulation may be necessary to ensure fair treatment for customers.

civis@odt.co.nz

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