The Panel with Jo McCarroll and Mark Knoff-Thomas Part 1
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Tonight, on The Panel, Wallace Chapman is joined by panellists Madison Burgess-Smith and Mike Williams. Starting off, the Panel hears how homelessness and rough sleeping is on the rise across the country and then they discuss the government's move to ban on-card payments in-store, saving shoppers from being stung with surprise fees when paying with contactless technology. To embed this content on your own webpage, cut and paste the following: See terms of use.
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Ban on card payment surcharges: Cafe owner says they'll have to pass on cost
The government plans to ban surcharges on card payments for in-person payments. Photo: 123rf Prices may need to rise at restaurants and cafes due to a ban on credit card surcharges, the sector is warning. The government plans to ban surcharges on card payments for in-person payments. Legislation is expected to be introduced to Parliament by the end of the year, with the ban to kick into effect no later than May 2026. Richard Corney, founder of Flight Coffee and The Hangar cafe, said he would have to pass the cost on to consumers somehow. "Our cafe, The Hangar, paid $17,000 in merchant fees in 2023 for the privilege of using PayWave and other associated services," Corney said. "Yes, it speeds up service and there's value using it, but the solution isn't banning vendors from on charging this expense. What next? They ban cafes from charging a surcharge for opening on a public holiday? Better yet, and while they're putting restrictions on the banks, why not ban the banks from charging for this service outright and save small businesses real money by not having to fund this expense." He said cafes would operate on profit to revenue ratios of less than five percent. "Banks do not - and they're also institutionally paramount functions of our society," Corney said. He said $17,000 was a significant portion of after-tax profit "I absolutely have to on-charge any associated expense with regard to this." The policy seemed out of touch, he said. Restaurant Association chief executive Marisa Bidois agreed it would be tough on hospitality businesses operating on tight margins. "These surcharges are genuine costs that businesses must pay. Without surcharges, businesses will need to absorb these fees, further impacting already small margins." She said the announcement had come as a surprise. "We've actively engaged with the Government to outline the financial pressures faced by hospitality businesses due to bank-imposed fees," Bidois said. "While we welcome consumer-focused changes, we are concerned about the lack of consultation on this particular announcement." She said businesses would probably need to adjust their pries. "Removing the ability to surcharge could mean businesses factoring these costs into their overall pricing, potentially leading to increased costs for diners." Sign up for Ngā Pitopito Kōrero , a daily newsletter curated by our editors and delivered straight to your inbox every weekday.
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Carpet maker Bremworth rebuilding Napier yarn plant
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