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Prices set to rise as retailers battle high costs and fear of closure
(www.stuff.co.nz)
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this post was submitted on 07 Jul 2023
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As I understand it, the fee is a cap on how much the payment processer can charge the bank. The amount the bank charges the retailer and the amount the retailer charges the customer are not capped.
This is based on this page: https://comcom.govt.nz/regulated-industries/retail-payment-system
Thank you that makes more sense. Even if it is asinine.