The Hugo Group

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Retail Payment System Bill

Introduced Oct 11, the Bill gives the Commerce Commission powers to regulate a new retail payment services regime in line with a government promise to regulate merchant service fees charged to retailers to bring them into line with overseas fees. First reading on Oct 26, opposed by National and Act referred to the Economic Development, Science and Innovation Committee. Reported back on March 8 with a wide number of changes mostly of a technical nature with Act filing a minority report in opposition. Second reading on April 12 with Act opposed. Committee stage completed on May 10 with no major changes.  Third reading completed on May 11 with just Act opposed. Retail Payment System Bill