Interchange fees now sit at 0.3% for credit cards and about 2% for debit cards. Retailers have frequently applied a blanket surcharge to both credit and debit cards. But debit cards should have been cheaper, even cost-free when inserted or swiped. Chief executive Carolyn Young has proposed a "compromise": capping debit surcharges at 0.5% and credit surcharges at 1%. The planned ban would cover Mastercard and Visa, though some foreign-owned credit cards would be exempt.

Source: Otago Daily Times December 26, 2025 21:35 UTC