ANZ Bank NZ has waived the fees for contactless debit payments to encourage use of contactless payments when alert levels permit, and to help small businesses feeling the strain of Covid-19 restrictions.
Effective for the month of September, the fees for contactless debit transactions will be waived for around 11,000 eligible small businesses. The waived fees will be reviewed monthly, taking into account the needs of customers and government emergency requirements.
“We are waiving these fees, and reintroducing other relief measures so businesses can take advantage of them quickly if they need to during the current Covid-19 restrictions,” said Lorraine Mapu, Managing Director Business Banking for ANZ NZ.
Short-term relief measures announced by ANZ NZ recently included access to temporary overdrafts to support any shortfalls in working capital, waivers of loan restructure fees and the ability for customers to extend loan terms or move term lending to interest-only to reduce non-essential financial outgoings for businesses.
“Contactless payments during Alert Level 3 are critical for small businesses to get back up and running, and provide reassurance to customers Covid-19 at point of sale terminals,” Ms Mapu said.