Credit Card Loyalty - How much is enough

The New Zealand regulator will shortly cut interchange on payment cards in New Zealand. "Interchange has generally set the upper limit on how much the credit card loyalty program operator (‘CCLP’) can afford to spend".

New Zealand's interchange reform will halve the value of the credit card rewards programs in our market. Ellipsis examine what happened in Australia (which went to half) and the UK (even lower interchange) and contrast with the USA where it is 4 times what it will be in New Zealand.

https://www.ellipsisandco.com/perspectives/credit-card-loyalty-how-much-is-enough