We'd all be better off if 'open banking' wasn't stymied by the banks
The recently announced new top tax rate, and regulation of PayWave, are unsurprising election promises by the Government.
Sam Stubbs thinks of the two, regulating Paywave fees is the more interesting as it sends a message that even the Government is getting sick of bad bank behaviour.
The special treatment the banks have been receiving, has been coming at the expense of everyday New Zealanders.
In this article on Stuff Sam makes the case for opening banking and argues that regulating Paywave fees is a step in the right direction, but there is more to do.