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Retail Payment System Act 2022

Merchant surcharging, monitoring and enforcement, and miscellaneous provisions - Merchant surcharging standards

32: Subject matter of merchant surcharging standards

You could also call this:

"Rules about how merchants charge you extra for payments"

Illustration for Retail Payment System Act 2022

You can find rules about merchant surcharging standards in the Retail Payment System Act 2022. These standards may deal with how merchants tell you about payment surcharges. They may also say how merchants must show payment surcharges and limit how much they charge you. You can see how these standards work when merchants tell you about payment surcharges. They must follow rules about how to show payment surcharges and how much to charge. These rules can be linked to principles about payment surcharges and how they are worked out. If you want to compare this with an earlier version, you can look at s 34 from 2021. These standards may also say that merchants must keep records of how they work out payment surcharges. They help make sure merchants are fair and transparent when charging you for payment services.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS532506.

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Topics:
Money and consumer rights > Consumer protection
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31: Process for issuing merchant surcharging standards, or

"How the Commission creates rules for merchants to charge extra fees"

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33: Pecuniary penalty for contravention of merchant surcharging standard, or

"Breaking merchant surcharging rules may mean you have to pay a penalty."

Part 3Merchant surcharging, monitoring and enforcement, and miscellaneous provisions
Merchant surcharging standards

32Subject matter of merchant surcharging standards

  1. A merchant surcharging standard may deal with, or otherwise relate to, 1 or more of the following matters:

  2. the disclosure of information relating to payment surcharges, including requirements for information to be provided—
    1. by merchants to all or any consumers, the Commission, and the public; and
      1. by one class of merchants to consumers that acquire their goods or services:
      2. requirements that merchants must represent payment surcharges in respect of payment services in a manner set out in the standard:
        1. requirements that merchants must limit payment surcharges in respect of payment services in accordance with the standard:
          1. requirements that merchants must keep records of how payment surcharges are calculated.

            1. Requirements under subsection (1)(b) and (c) may be linked to—

            2. principles and limits on payment surcharges (or components of payment surcharges) payable by consumers or classes of consumers to merchants:
              1. requirements relating to surcharging methodologies and how payment surcharges are expressed, and to formats when payment surcharges are charged to consumers.

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