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New Zealand: Commission surveys retailers to gauge effectiveness of new credit card rules

By  |  October 18, 2012
New Zealand: Commission surveys retailers to gauge effectiveness of new credit card rules

The Competition Commission of New Zealand has undertaken an analysis on the impacts of a settlement it had with banks and credit card companies in 2009. The Commission had signed separate agreements with leading credit card companies such as Visa and MasterCard, claiming that they allegedly breached the Commerce Act through their card schemes, which artificially inflated the cost of accepting cards by Merchants and ultimately raised prices for consumers.

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    The Commission is interested in finding out what impact the new rules have had at the ‘shop-front’. Any results or further investigations from this analysis will not result in any further enforcement action.

    Full Content: Competition Commission

    Related Content: Australia/New Zealand

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