Petrol pumps defer decision of not accepting cards till Jan 13
|Source: The Hitavada Date: 09 Jan 2017 08:40:53|
PETROL pump owners on Sunday deferred till January 13 their decision to not accept credit and debit card payments for fuel sales after banks put off the move to levy the transaction (MDR) charge.
To promote cash-less transactions, the Government had waived the Merchant Discount Rate (MDR) on fuel purchase
for consumers. The banks have decided to levy MDR on petrol pump owners.
This meant petrol pumps having to bear 1 per cent on all card transactions. In protest of the move, operators had decided not to accept cards from Monday.