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Old 8th January 2017
Monty Balli Monty Balli is offline
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Post Petrol pumps won't accept cards from Monday to protest bank's transaction fee

BENGALURU: Petrol pumps across India will stop accepting debit and credit cards from Monday to protest what the petroleum dealers call an "irrational and sudden" move by banks to charge 1% transaction fee on every payment accepted by card.

The banks' move will not target the citizens directly as no new charges will be levied on customers using cards.

But if petrol stations continue with cash-only operations, it will certainly inconvenience lakhs of vehicle owners given the paucity of cash in the system.

The non-acceptance of credit/debit cards at petrol stations comes at a time when the Centre is pushing for increased non-cash transactions, and close on the heels of its announcement of a 0.75% cashback offer on purchase of petrol using cards.
Speaking to TOI, BR Ravindranath, president, Akhila Karnataka Federation of Petroleum Traders and Bangalore Petroleum Dealers Association, said: "They (banks) must apologise to the public."

Stating that the profit of all petroleum dealers are determined by the oil marketing companies (OMCs), which have fixed the net profit at 0.3% to 0.5%, Ravindranath said: "If the banks straight away levy a 1% transaction fee, where do they expect us to go. It becomes extremely difficult to survive in such circumstances."

A manager at a petrol station said: "The public will see us as the villains now. They will think we are inconveniencing them by demanding only cash, but the truth is not that. Sale of petrol/diesel is highly regulated and we cannot fix our own rates in view of this sudden levy by banks. So our best option is to not accept cards."

On whether punishing people is the right attitude, Ravindranath said: "We do not have control over how much profit is fixed for us, or at how much we can sell petrol at. When the OMCs fix all of that, they are now washing their hands of this problem. When we contacted George Paul (the person co-ordinating on behalf of OMCs), he says it is between us and the banks and that we should sort it out."

Stating that the decision has been taken unanimously by all petroleum dealers in the country, Ravindranath said there is no question on going back on this. "This is not a protest to withdraw, it is a question of our survival and we cannot just function like this. It will be all cash until banks withdraw the transaction charge."

source: http://timesofindia.indiatimes.com/b...3.cms?from=mdr

Last edited by Monty Balli : 8th January 2017 at 09:51 PM.

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Old 8th January 2017
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The Petrol Pumps association head spoke on a major news channel today. He said a lot of things that the media doesn't seem to get:

- Certain Banks (who supply and operate their PoS machines) have suddenly with ZERO notice sent them a letter that they will be charged 1% of all transactions as a fee.

- Petrol Pumps were historically an exception in that the Merchants were NEVER charged transaction fee, instead consumers were charged a surcharge, which was waived off by the card issuing banks in some cases. Hence this 1% fee is a completely NEW charge.

- The Banks sent a letter to Pumps on Saturday saying that charges will be effective fro MIDNIGHT. This was the most ridiculous thing.

- Petrol pumps effectively make 0.75% margins, especially the smaller ones make less margins. A 1% fee will mean that they will be selling petrol at a loss on every card transaction.


Thus, the media is putting the blame on the easy skapegoat the pumps instead of highlighting the BANKS who are responsible for this sudden problem.

Last edited by Monty Balli : 8th January 2017 at 09:55 PM.

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Old 8th January 2017
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this makes question mark to Digital India
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Even these petroleum millionaires can't accept this service charge fee then how poor people accept this
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Old 8th January 2017
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all cards levying service charges, for example for 20k purchase over 500 rs service charge if bought with card. for railway booking online carry service charge starting from base rate 11.5 rs and %.

govt should at least take away that service charge before asking all to go digital.

also buying with cards is so insecure, all can see pin no as its just 4 digits, just buy looking at the keypad region when he/she presses. then the card no can be easily got just by looking as that no is also easy to remember, shop guys just need that no and pin for transact and that can be done from anywhere. all who are using cards for shopping be aware of it.

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