NZ to Ban In-Store Card Surcharges by 2026

The New Zealand government has announced a ban on surcharges for most in-store electronic card payments, including Paywave, Visa, Mastercard, and EFTPOS, set to take effect by May 2026 at the latest. The change aims to save consumers up to $150 million annually by eliminating excessive and unclear surcharges at the point of sale. The ban will not apply to online payments, international card schemes such as American Express and UnionPay, or prepaid gift and travel cards. Recent reductions in interchange fees are expected by the government to help retailers manage costs, though industry representatives warn that businesses might compensate by raising prices. The Commerce Commission, consumer groups, and major card networks have supported the move, highlighting strong public backing. Retailers remain concerned about the financial implications and the need for clarity on underlying bank fees.