Petrol pumps defer decision to not accept card payments till January 13

Posted on:09 Jan 2017 10:34:28
Petrol pumps defer decision to not accept card payments till January 13
09 January 2017 Current Affairs: Petrol pump owners have 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 post demonetisation for consumers. But after the expiry of the 50-day window, the banks have decided to levy MDR on petrol pump owners.

This meant petrol pumps having to bear 1 per cent on all credit card transactions and between 0.25 per cent and 1 per cent on all debit card transactions from January 9.

AIPDA also has decided to defer the agitation till January 13.

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