Petrol Pumps accept credit/debit cards till January 13 | Fusion - WeRIndia

Petrol Pumps accept credit/debit cards till January 13

Petrol Pumps accept credit/debit cards till January 13

After the banks decided to levy transaction Merchant Discount Rate charge, the Petrol Pumps announced protest by wanting to stop accepting credit/debit cards.

However, the Petrol Pumps Association postponed its decision of not accepting card payment for fuel purchase till January 13.

They postponed only because banks also postponed the transaction Merchant Discount Rate (MDR) charge.

After the demonetization, the government waived the MDR on fuel purchase in order to improve cash-less, digital transactions.

The banks however, decided to charge MDR on petrol pump owners again after the 50 days of government demonetization drive.

According to Union Minister of Petroleum Dharmendra Pradhan, the issue about Merchant Discount Rate (MDR) is a business one.

He said that Banks and Oil Marketing Company (OMC) will resolve the matter soon. The minister made it clear that consumers should not worry about this charge at all.

The news that banks postponed the transaction fee was confirmed by Ajay Bansal, President of All India Petroleum Dealers Association (AIPDA). As a result, AIPDA also postponed their protest.

This means that till January 13th credit and debit cards will be accepted by petrol pumps on fuel purchase.

It was stated in the press release, various ministries and oil marketing companies coerced all dealers to accept Credit Cards/ Debit Cards for payment.

The dealers are saying that they received information by HDFC Bank that an additional 1 per cent on all credit card transactions and 0.25 per cent and 1 per cent on all debit card transactions will be charged from January 9th.

Due to this being postponed, there will not be any protest as well.

The petrol pump association and all dealers were against the move which puts an additional 1 percent of charge on them.

They were ready to protest it by denying card payments from January 10th but it is postponed till January 13th.

Image credit: Image by Maria_Domnina from Pixabay (Free for commercial use)

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