May 24, 2022
Retail Payment System Act 2022 now in force
The Act is primarily intended to (a) regulate merchant service fees (the fees banks charge businesses when customers use a credit or debit card to pay) to bring them in line with fees charged in regulated markets overseas, and (b) promote competition in the retail payment system, by making it easier for new participants to enter and create innovative new payment networks and services.
Read More
May 24, 2022
Retail Payment System Act 2022 now in force
The Act is primarily intended to (a) regulate merchant service fees (the fees banks charge businesses when customers use a credit or debit card to pay) to bring them in line with fees charged in regulated markets overseas, and (b) promote competition in the retail payment system, by making it easier for new participants to enter and create innovative new payment networks and services.
Read More
