Banks on notice over ‘No Paywave’ dysfunction
New Zealand has fallen behind Australia and Britain in using contactless payments through smart phones because our light-handed regulation means bank fees are two to three times higher and retailers are revolting. The Government may have to regulate fees directly, Bernard Hickey reports.
In the telecommunications industry, it's known as 'bill shock'. As soon as a customer gets an unexpectedly large bill during a trip overseas, they immediately stop using their phone because