Five independently owned BP stations in Wellington may be the first businesses in the country to pass on credit card transaction costs to their customers.The stations were the first businesses to take advantage of being able to put a surcharge on credit c
Five independently owned BP stations in Wellington may be the first businesses in the country to pass on credit card transaction costs to their customers.
The stations were the first businesses to take advantage of being able to put a surcharge on credit card usage, TVNZ reported.
The fee sees customers pay 60c extra for every transaction under $30 and 90c for every transaction over $30.
Credit card companies charge retailers a transaction cost and previously that fee was not able to be passed on to the customer.
However, last year the Commerce Commission agreed with financial institutions that merchants should be able to surcharge customers using credit cards.
At the time commission chairman Mark Berry said the deal would save retailers up to $80 million over three years.
However, commission figures also estimated it could cost credit card users $340 million a year if all businesses passed on the charge.
Massey University Centre for Banking Studies spokesman David Tripe believed customers would start seeing more of the practice but did not believe it would become the norm.
Automobile Association spokesman Mike Noon said fuel pumps should have signage advising of the credit card charge.
The AA had spoken to the rest of the petrol companies who said they had no intention of bringing in the fees.
BP said the company had no plans to introduce the charge at the stations it owned, however about two thirds of BP stations were independently owned, and they could decide for themselves.
