TaubinJul 7, 2023

Prices set to rise as retailers battle high costs and fear of closure

https://lemmy.nz/post/280200

Prices set to rise as retailers battle high costs and fear of closure - Lemmy NZ

>Prices will continue to rise in the next three months as almost 60% of retailers fail to meet sales targets and others fear closure within the year. Surely raising prices will help them sell more!

Show threadMunkisquisherJul 7, 2023
Let alone the bullshit credit card charges everyone is charging these days. Especially as The Retail Payment System Act 2022 is now in force capping the price retailers pay to 0.8%
Show threadTaubinJul 7, 2023
If it’s capped, how do places like PBTech get away with charging 1-3%? Genuinely curious.
Surcharges for select payment options - PBTech.co.nz

PB Tech charges a surcharge on some payment options offered to its customers

PB Tech
Show threadDave

As I understand it, the fee is a cap on how much the payment processer can charge the bank. The amount the bank charges the retailer and the amount the retailer charges the customer are not capped.

This is based on this page: comcom.govt.nz/…/retail-payment-system

Commerce Commission - Retail payment system

Jul 7, 2023 at 10:15amWeb
Show threadTaubinJul 7, 2023
Thank you that makes more sense. Even if it is asinine.