Latest / Best of Business / Carolyn Young: Retail NZ chief executive voices disappointment with struck-down Easter trading bill

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Carolyn Young: Retail NZ chief executive voices disappointment with struck-down Easter trading bill · Best of Business

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  Speaker 1: You're listening to a podcast from News Talk z'b Follow
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  Speaker 2: Phil's seeking to remove Good Friday and Easter Sundays restricted
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  Speaker 2: trading days has been voted down. Politicians voted against at
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  Speaker 2: seventy four to forty nine and a conscience vote. Carolyn
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  Speaker 2: Young Retail and Zed Good Evening, Go tov on the show, Carolyn.
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  Speaker 3: Callen, nice to be here.
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  Speaker 2: You disappointed with that?
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  Speaker 3: We are really because you know, it's a good opportunity.
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  Speaker 3: It was a good opportunity for the trading shop trading
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  Speaker 3: hours to be aligned with other places around the world.
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  Speaker 3: And with online trading, you can buy anything. People will
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  Speaker 3: be online on Christmas Day, purchasing, making purchases ahead of
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  Speaker 3: Boxing day, stores on the on Boxing Day, and there's
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  Speaker 3: nothing to stop someone trading online. So why would not
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  Speaker 3: be sensible for someone for a store to be able
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  Speaker 3: to be open should they want to be open on
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  Speaker 3: Easter Friday or the Friday is for Sunday.
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  Speaker 2: Well, I think it's the staff. Is the staff, isn't it.
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  Speaker 2: It's giving everybody a day off together as one. I mean,
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  Speaker 2: sure people can shop online, but you don't have to
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  Speaker 2: man a physical store.
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  Speaker 3: Well, I think the thing about that is that that
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  Speaker 3: we're not all the same. And so the fact that
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  Speaker 3: people think that everybody wants to have the day off
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  Speaker 3: with their family on that day, some people might rather
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  Speaker 3: work and get the penal rates and then be able
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  Speaker 3: to take the day and lose that they get as
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  Speaker 3: an alternate public holiday that they could go to their
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  Speaker 3: son or daughter's school sports day or see their play
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  Speaker 3: or something like that which they couldn't do any other time.
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  Speaker 3: Fair enough, sometimes that can give you greater flexibilities some options.
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  Speaker 2: Are you giving up on this now? Is as dead
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  Speaker 2: in the water.
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  Speaker 3: Look, I think it'll come back around again. It pops
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  Speaker 3: us here up every time. We'll be looking to make it.
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  Speaker 2: Just like, just likeas it'll be back next year. Hey,
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  Speaker 2: let's talk about this this ComCom thing. So the comments
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  Speaker 2: question has come out that got a draft proposal for
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  Speaker 2: reducing Visa and MasterCard payment fees that we pay, which
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  Speaker 2: the well, the retailers pay and then we pay. And
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  Speaker 2: now MasterCard has released a statement suggesting that some retailers
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  Speaker 2: pass on more fees than they are actually charged.
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  Speaker 3: Do they look, it's a complicated space. What we can
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  Speaker 3: say in somewhat, I guess is the short answer, But
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  Speaker 3: the long answer is that the merchant service fee, which
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  Speaker 3: is the total fee that retailers pay, retailers and hospitality
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  Speaker 3: businesses pay to accept transactions via those rails. There's up
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  Speaker 3: to six providers in there that are all taking a
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  Speaker 3: piece of the pie. For a retailer, it's a really
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  Speaker 3: complex space to really understand what your total fees are.
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  Speaker 3: So there's a couple of problems. One is that when
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  Speaker 3: you pay on the terminal, you go there and you
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  Speaker 3: pay a lot of people think about it as being
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  Speaker 3: the f pos terminal, but it's a terminal. Those terminals
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  Speaker 3: don't have the ability to put differential fees on them,
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  Speaker 3: so you should. What we want the terminal providers, and
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  Speaker 3: what we wrote the Commics Commission about was actually that
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  Speaker 3: the terminal food providers need to be able to pay
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  Speaker 3: differential fees for a debit transaction or a credit transaction.
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  Speaker 3: That would go some way to alleviating that, I think
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  Speaker 3: also simplifying the system so that everybody understands what the
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  Speaker 3: total fees are. The draft that's come back for the
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  Speaker 3: Commerce Commission goes some way to some of the things
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  Speaker 3: that we were looking for which is lower fees. But
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  Speaker 3: actually we our submission was ready about we think that
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  Speaker 3: if the Commics Commission wants the fees to be at
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  Speaker 3: one percent of lower, which is what they stated in
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  Speaker 3: their draft documentation for consultation, they should regulate the total
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  Speaker 3: fee because we know that interchange is only one part
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  Speaker 3: of the pace.
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  Speaker 2: So I haven't done. Yeah, they haven't done. In short,
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  Speaker 2: can you give me just a really short yuse or
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  Speaker 2: no here after this draft proposal has been released, our
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  Speaker 2: consumer is going to get cheaper fees at the terminal.
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  Speaker 3: Well, retailers will eventually get to cheap of fees and
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  Speaker 3: consumers well as well, because the comments Commission.
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  Speaker 2: Will be regulate so long, so long as they're passed on. Carolyn,
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  Speaker 2: that's the key, Carolyn Young, retail in Z sixteen after five.
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