Before I draw this committee's attention to some of the more notable features of the bill, I'd like to acknowledge again and repeat my thanks to the Economic Development, Science and Innovation Committee for its time considering this bill. They have made some suggested changes which I will touch on. The bill is designed to address certain inefficiencies which are resulting in poor outcomes for many merchants and consumers. As I mentioned before, the charges merchants face for accepting certain payments are high by international standards, particularly credit card and online debit transactions. It just so happens that consumers are incentivised to prefer those more costly payment methods in the current retail payment system.