FAQs about Our Network Fee increase
Q: What is the new standard Network Fee?
A: The standard Network Fee for each terminal connected to the Verifone Network increased from $13.50 to $15.00 (excluding GST) per month. This increase is in line with the Consumer Price Index.
Q: When did the increase take effect?
A: The increase was effective from 1 May 2023.
Q: What do I need to do?
A: If you pay your network fee by direct credit or automatic payment, you will need to increase your payment amount as per the email you received to avoid your account going into arrears.
If you pay your network fee by direct debit, there is nothing you need to do. Your monthly direct debit will be automatically adjusted to the new amount.
Q: Why is the payment network connection fee being increased?
A: After careful consideration and a thorough review of our operating costs, we have decided to increase our monthly payment network fee to cover the rising costs of operating and maintaining our payment network services. This small increase will help ensure that we can continue to provide you with a reliable, innovative payment processing platform. Our payment network is still the most affordable option in New Zealand.