this post was submitted on 11 Aug 2023

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Eftpos plummets in popularity as newer forms of payment emerge (www.rnz.co.nz)

submitted 2 years ago by [email protected] to c/[email protected]

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[–] [email protected] 2 points 2 years ago (1 children)

I just spent a month in Europe and tapped-to-pay my credit card every I went, from the center of London to a train station in the south of France to a small cafe in Poland - without a surcharge.

Why are they getting away with it in NZ? Are we just too much of a captive market to do anything about it?

[–] [email protected] 1 points 2 years ago

I would guess Europe has competition between banks that lead to much lower service charges. Our small market has ample examples of our lack of competition leading to higher prices.