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Speaker 1: Though we could be missing out on two hundred and

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Speaker 1: fifty million dollars a year due to payWave and online

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Speaker 1: credit card fees. That's according to the ComCom the Commerce Commission,

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Speaker 1: who say that there needs to be more regulation to

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Speaker 1: stop retailers unnecessarily overcharging their customers. They are consulting on

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Speaker 1: the changes that they want to make. They've also set

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Speaker 1: a goal to see SURD charges for contact lists or

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Speaker 1: online payments fall between one and a half and two percent.

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Speaker 1: Karen Young is from retail end Z and she's with

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Speaker 1: me this morning. Carolyn, good morning. What do you think

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Speaker 1: what do you think is a reasonable fee to charge?

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Speaker 2: Look, I think it's an early days to work out

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Speaker 2: what would be a reasonable fee to charge with what

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Speaker 2: we do now is it's a pretty complicated system and

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Speaker 2: there's a lot of players with their hands in the

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Speaker 2: till while we're worsening to the process and when we

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Speaker 2: want it to be much more simpler, more straightforward, easy

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Speaker 2: for retailers and consumers to follow, something that's open and

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Speaker 2: transparent so that everyone understands how it looks and what's

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Speaker 2: reasonable to pay.

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Speaker 1: So do the shop owners get charged? Do they all

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Speaker 1: get charged a different amount from you that merchant service

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Speaker 1: fee that they pay or is that a uniform fee

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Speaker 1: across everyone.

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Speaker 2: There are lots of different sees within the payment gateways

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Speaker 2: that you pay, depending on the type of card, the

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Speaker 2: banks you're with, the terminal provider, the card transaction that

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Speaker 2: goes through. You know, there's lots of different ways in

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Speaker 2: which that comes through, and what we're one of the

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Speaker 2: one of the things we're looking for is to make

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Speaker 2: sure that it's all streamlined so that everybody's bank statement

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Speaker 2: clearly states what their total SEE is at the end

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Speaker 2: of each month.

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Speaker 1: Are we getting ripped off? Is the ComCom right?

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Speaker 2: There's probably an element of the fees that could certainly

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Speaker 2: be trims, that's for sure, and that sits with the

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Speaker 2: the financial services system within that space, and that's passed

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Speaker 2: on to retailers and often passed on to consumers.

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Speaker 1: So you're saying, it's not the retailers who are who

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Speaker 1: are adding a bit of fashion there, it's the visas

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Speaker 1: and the master cards.

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Speaker 2: Well, there are times when some of the fees that

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Speaker 2: are passed on to consumers are probably not as accurately

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Speaker 2: reflected as they could be. And part of that from

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Speaker 2: the conversations we've had with people is through lack of

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Speaker 2: knowledge through a really complicated system. So we want system

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Speaker 2: to be a lot more simple and straightforward so that

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Speaker 2: everyone can follow it and that all of the players

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Speaker 2: in that space. There's always bad actors that operate in

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Speaker 2: spaces that they are providing good advice to businesses, you know,

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Speaker 2: both retailers and hospitality businesses, and we're working alongside hospitality

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Speaker 2: to jointly go out to our members and come back.

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Speaker 2: We're pretty aligned on where we see things and we

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Speaker 2: want to see improvements across the board.

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Speaker 1: All right, Carolyn, thanks so much of your time. It's

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Speaker 1: Carolyn Young from Retallion ZED. For more from News Talk

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Speaker 1: zed B listen live on air or online, and keep

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