Government to Ban Card Payment Surcharges – Likely to be enacted from May 2026.

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What’s changing:

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• No more surcharges on EFTPOS, Visa, and Mastercard in-store/ payWave.

• Still allowed: Online payments, foreign cards, American Express, UnionPay, and prepaid cards.

• Enforcement: The Commerce Commission will oversee compliance, and customers will be entitled to refunds if businesses don’t follow the rules.

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Why it matters:

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• Businesses currently pass on an estimated $150 million per year in surcharges.

• Small businesses may face additional cost pressures and could need to review their pricing.

• Banks will be required to give clearer cost information to help businesses negotiate better rates.

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How to prepare:

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• Check your merchant fees and discuss options with your payment provider.

• Budget for potential cost changes or factor them into your pricing strategy.

• Stay informed – legislation is expected later this year, with enforcement from May 2026.

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We’ll continue to keep you updated with practical advice as more details are confirmed.

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