Lee MelissaMELISSA LEE (National): [Member removes mask]. Taking off the mask might actually help. Thank you Madam Chair and thank you to the members who have actually asked some questions. This Retail Payment System Bill was considered by the Economic Development Science and Innovation Committee and I'd like to thank my colleagues in the select committee for giving this really good consideration but as always with select committee bills they come in and we deal with it and it actually gets passed back to the House and we move on to the next bill and sometimes you forget what the bill was about. So I had to go back to my notes to actually try and figure out what this bill was actually all about. Because you know sometimes financial things sort of go out of my head. But in terms of the merchant payment fees that the Minister talked about I think it might be really important particularly for people who watch Parliament TV and who are actually listening to this debate is to perhaps actually talk about what this Retail Payment System Bill literally deals with. I think when we actually talk about the bank charges a lot of people would have experienced in their time when they're either using credit cards or EFTPOS that there are some fees attached to the services that they are wanting to use. For example particularly during COVID people were not able to use the insert option for the EFTPOS terminal because they didn't want people to touch them so the contactless payWave system was used and that actually incurred fees as well. So the high merchant services fee that the Minister actually talked about is the interchange portion which is actually the biggest portion in the merchant service fee that customers are actually charged which is often what the merchants as in the shops that we go to pass on because it is the banks who actually charge these things to the merchants and the merchants basically pass it on to the customers. So effectively what happens is that the transaction fees are for the use and the I guess privilege of using those services whether it's actually credit card or contactless payment and it is literally passed down from the issuer the bank who actually goes through for example the Visa or MasterCard who actually provide those cards and the system that actually provides the transaction infrastructure effectively means that us the users of these cards end up paying for the service. What literally happens is that apparently in New Zealand we pay the highest fees compared to our close neighbours. So one of the things—I mean there are lots of things to talk about but I think the Hon Judith Collins actually asked a really really sensible question especially because technology is actually moving. I would like to ask the Minister: is the Minister confident that the changes put into this bill will keep up with the emerging technology and digital innovations including those we may not be able to anticipate due to technological innovation—Andrew Bayly: What a great question!MELISSA LEE: —yeah—that we may not even think about today? And is this bill written for futureproofing to make sure that we actually look at those technological advancements in the banking services or transactional services that we may not even think about? So I would like the Minister to answer that if he could please.