Councillors attack Visa

Press, 7 November 1978, Page 6

Councillors attack Visa

The Bank of New Zealand’s newly introduced Visa cards came under yet another attack last night at the monthly meeting of the Waimairi County finance and bylaws committee.

Cr W. T. Rice said the bank should have limited the distribution of the cards to people requesting them. “The greater the acceptance, the greater will be the inflation whether in Waimairi County or anywhere else in New Zealand,” he said.

“Retailers will need to raise retail prices to cover the bank’s rake-off and the person who will eventually pay will be the consumer. Increased business from the system is a myth.” Cr Rice said he and his wife had returned their unsolicited cards to the bank. He sincerely hoped that the cards would not be accepted by the county for payment of rates and was assured that, at least at this stage, they would not be.

Cr Rice was supported in his criticism of the Visa cards

by Crs H. M. Tait and F. Chisholm.

Crs R. W. Skjellerup and E. L. Bonisch opposed Cr Rice’s recommendation that the council write a letter of protest to the Minister of Trade and Industries (Mr Adams-Schnieder) and support the Consumers’ Institute plea for a public inquiry into the credit-card system. After about 40 minutes of debate, the committee decided to defer the matter and have a staff report prepared on how the system concerns the county.