this post was submitted on 07 Jul 2023

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Prices set to rise as retailers battle high costs and fear of closure (www.stuff.co.nz)

submitted 1 year ago by Taubin@lemmy.nz to c/newzealand@lemmy.nz

9 comments fedilink hide all child comments

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!

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[–] Dave@lemmy.nz 5 points 1 year ago (1 children)

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: https://comcom.govt.nz/regulated-industries/retail-payment-system

[–] Taubin@lemmy.nz 4 points 1 year ago

Thank you that makes more sense. Even if it is asinine.