Petrol Pumps Will Accept Cards For Now, After Banks Defer Decision to Charge Transaction Fee

Petrol pumps across the country have decided to postpone their decision on whether to accept debit and credit cards till January 13, after banks agreed to defer their decision to charge 1% transaction fee on card payments at petrol pumps from Monday.
Petrol pumps owners had earlier decided not to accept card payments, from Sunday midnight in protest against the move initiated by several banks to levy a 1% fee on card payments at fuel pumps.
President of the All India Petroleum Dealers Association, Ajay Bansal, said that while they supported the Centre’s drive to transition into a cashless economy, it should not be at their cost.
The centre’s decision to demonetize high-value notes has both the petrol pump owners and banks complaining.

Before the shock recall of two high-value notes, customers paid a transaction fee along with a surcharge for buying fuel with debit or credit cards.
But for promoting cashless payments, customers were exempted from paying these charges at petrol pumps. The banks bore the burden.
“We were not given any date for discontinuing this by the government. The unsaid understanding was that these levies would start after the first week of January,” said a banker, who didn’t wish to be named.

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