Retail Payment System Act 2022

Introduction

You could also call this:

"Making Payment Systems Fair and Efficient for Everyone"

Illustration for Retail Payment System Act 2022

This Act aims to help the retail payment system in New Zealand work better. It wants to promote competition and efficiency in this system. This will benefit merchants and consumers in New Zealand in the long run. You will see that this Act is trying to make things fair for everyone. It is about making sure people have choices when it comes to paying for things. This can help keep costs low and services good. The goal is to make the retail payment system work well for a long time. This means merchants and consumers can trust the system and use it easily. It is all about making things better for people in New Zealand.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS528080.

This page was last updated on 25 December 2025 — View changes

Highlights from this law

10: Designation of networks by Order in Council

The Governor-General can create a rule to make a payment network official.

17: Commission may issue network standards for designated networks

The Commission can create rules for certain networks and their users.

30: Commission may issue merchant surcharging standards

Rules for merchants who charge extra for payment services

24: Commission may give directions about network rules

The Commission can tell network participants what to do and how to follow the rules.

39: Pecuniary penalty orders for contraventions of network standards and directions

Paying a fine for breaking payment system rules

40: Pecuniary penalty orders for contraventions of merchant surcharging standards

Breaking merchant surcharging rules can result in a fine of up to $200,000 or $600,000.

45: Court may order compensation

The court can make someone pay for hurting or damaging others

46: Enforceable undertakings in connection with enforcement of this Act

Promises to follow the law that must be kept

Topics:

Money and consumer rights > Consumer protectionMoney and consumer rights > Banking and loansBusiness > Industry rulesBusiness > Fair trading

1: Title, or

"The name of this law is the Retail Payment System Act 2022"

Retail Payment System Act 2022

Reprint as at:: 2025-12-01
Assent:: 2022-05-13
Commencement:: see section 2

The Parliamentary Counsel Office has made editorial and format changes to this version using the powers under subpart 2 of Part 3 of the Legislation Act 2019.

Note 4 at the end of this version provides a list of the amendments included in it.

This Act is administered by the Ministry of Business, Innovation, and Employment.