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flag New Zealand business groups urge rejection of merchant surcharge ban, fearing broad price hikes and harm to small firms.

flag New Zealand business groups are urging the government to abandon a planned ban on merchant surcharges, warning it would force across-the-board price hikes and harm small businesses. flag They advocate for capping fees at 1% for personal domestic credit cards and 0.5% for debit, arguing this balances consumer protection with business sustainability. flag The groups say a blanket ban would unfairly shift costs to all customers, reduce transparency, and stifle innovation, especially as upcoming interchange fee cuts take effect. flag They call for government engagement to develop fair, targeted regulations that account for foreign and commercial card fees while supporting FinTech growth.

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