The Commerce Commission (“Commission”) gives notice that it has issued the Mastercard and Visa Interchange Fee Network Standard 2025 (“network standard”) which revokes and replaces the initial pricing standard in Schedule 1 of the Retail Payment System Act 2022 (“Act”). The network standard regulates interchange fees on the Mastercard and Visa credit and debit networks.

The Commission issues this network standard under sections 17 and 20(1)(b)(i) of the Act. The network standard is secondary legislation under the Legislation Act 2019.

The network standard comes into effect on 1 December 2025, however the interchange fee caps applying to foreign-issued card transactions take effect on 1 May 2026.

Material available for inspection

Copies of the network standard and the supporting decision and reasons paper are available on the Commission’s website at: https://comcom.govt.nz/regulated-industries/retail-payment-system. These materials are also available for inspection free of charge, or for purchase at a reasonable price, during ordinary office hours at the Commission’s office at Level 9, 44 The Terrace, Wellington.

Dated at Wellington this 17th day of July 2025.

COMMERCE COMMISSION.