We are working to ensure that the retail payment system operates in the interests of New Zealand consumers and businesses.

We recently sought feedback on the exposure draft of the Customer and Product Data Bill (the draft law) and the accompanying discussion document. The draft law will give customers more control over their data, allowing them to safely and securely access, manage, and share this data with others.

The Government announced a new mandatory Grocery Supply Code of Conduct supporting fairer trading relationships last week.

MBIE consulted on an exposure draft of the Consumer Information Standards (Unit Pricing for Grocery Products) Regulations 2023. These draft regulations intend to help consumers compare grocery prices more easily by requiring the consistent display of unit pricing in New Zealand’s major grocery retailers.

The Commerce Commission has published its draft report into personal banking services.

In February 2020, the Government announced its decision to introduce changes to improve competition in the retail fuel market. These changes have been implemented.

The Government has decided to establish a consumer data right in New Zealand to give individuals and businesses greater choice and control over their data. We recently consulted on the draft law that will be used to enable this, and we are considering public feedback.

On 31 January 2024, the Government announced plans to reform the Financial Markets (Conduct of Institutions) Amendment Act (CoFI) and the Credit Contracts and Consumer Finance Act (CCCFA).

The Government response follows the Commerce Commission’s market study into the retail grocery sector.

Discussion document Unlocking value from our customer data