Hon Dr DAVID CLARK: Currently, unregulated New Zealand's merchant service fees are almost double what they are in Australia. Looking further afield, UK merchants pay, roughly, a third of what they do here. These fees add significant overheads for retailers, who often pass the costs on to consumers through higher prices and surcharges. We will cap interchange fees for credit card transactions at 0.8 percent, which is in line with our trans-Tasman counterparts. We're also capping the interchange fees charged for online debit card transactions at 0.6 percent, and contactless debit card interchange fees will be capped at the current average rate of 0.2 percent. For swipe and inserted debit, it will stay at zero percent.