How often do you actually have to punch in your bank card pin at the counter? PayWave has taken over as the go-to way to pay, but with convenience comes a cost.
Have you ever wondered how much those quick taps have cost you over a year?
Consumer NZ’s Jessica Walker told Newshub that PayWave surcharges in NZ should never be over 2.5% - but some sneaky spots aren't sticking to that.
Jessica added that most places you buy from sit around the 1.5% to 2% surcharge mark, but to keep an eye out for anything higher and report it to Consumer NZ.
Now, if you’re a real coffee lover (like me) and grab a cup every day, that’s 13.75 cents times 365 days.
Quick maths, that’s around $50.19 a year just on PayWave charges. That could have bought you an extra 9 brews…
And that’s just for your coffee. Let’s not even begin to talk about all those date nights out or takeaway Fridays for the family.
Sure, in the moment, we don’t really mind the small fee, it saves us a few seconds of wallet rummaging and pin-punching.
But when you add up those yearly fees, maybe it’s worth taking a second to think.
So next time you're tapping away, just think about where those extra cents are going and whether it’s worth saving some dollar signs by spending a little extra time at the checkout.
