Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Foodstuffs welcomes VISA back down

Foodstuffs welcomes VISA back down

Foodstuffs says VISA’s back down over its planned hike in commission fees is not surprising, but warns shoppers the issue not over yet.

Foodstuffs (New Zealand) Ltd Managing Director Tony Carter says VISA’s announcement that it is postponing a 1 July implementation date to 1 October 2003 so that it can consider its options was sensible.

“We have had terrific support from our customers for our stance over the past few days.

“This has reinforced our view that grocery shoppers shouldn’t have to wear fee hikes from financial organisations and the most obvious solution would be to stop accepting VISA in our stores if VISA ultimately decides to go ahead with the increase.

“The only other alternative would be to put up grocery prices to cover the increase and we don’t think this option is acceptable. It’s not fair on shoppers, particularly those who don’t use credit cards in supermarkets.

“While an increase in grocery prices would be relatively small, it’s the principle of the matter. We have to draw a line in the sand and say any increase in food prices because of commission hikes is unacceptable for our customers.

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Media Mega Merger: StuffMe Hearing Argues Over Moveable Feast

New Zealand's two largest news publishers are appealing against the Commerce Commission's rejection of the proposal to merge their operations. More>>

Elsewhere:


Approval: Northern Corridor Decision Released

The approval gives the green light to construction of the last link of Auckland’s Western Ring Route, providing an alternative route from South Auckland to the North Shore. More>>

ALSO:


Crown Accounts: $4.1 Billion Surplus

The New Zealand Government has achieved its third fiscal surplus in a row with the Crown accounts for the year ended 30 June 2017 showing an OBEGAL surplus of $4.1 billion, $2.2 billion stronger than last year, Finance Minister Steven Joyce says. More>>

ALSO:

Mycoplasma Bovis: One New Property Tests Positive

The newly identified property... was already under a Restricted Place notice under the Biosecurity Act. More>>

Accounting Scandal: Suspension Of Fuji Xerox From All-Of-Government Contract

General Manager of New Zealand Government Procurement John Ivil says, “FXNZ has been formally suspended from the Print Technology and Associated Services (PTAS) contract and terminated from the Office Supplies contract.” More>>