New Zealand's Smartpay falls on potential reduction of card surcharge fees in Australia

Smartpay Holdings

15/10/2024 01:30

** Shares of Smartpay  SPY.NZ  fall as much as 4.5% to
NZ$0.95, their lowest since Oct 2
    ** Stock marks its worst day since Oct 2
    ** Payments solution provider, operating in both New Zealand
and Australia, says it has engaged with the Reserve Bank of
Australia on the surcharging review and will inform shareholders
of any potential impacts
    ** Australian government had announced plans to reduce bank
card surcharges, including transaction fees, with the central
bank undertaking a review of merchant card payment costs and
surcharging

 (Reporting by Sneha Kumar in Bengaluru)
 ((Sneha.Kumar@thomsonreuters.com))