Petrol Pumps Now Accepting Cards till 13 January: Decision Taken Back

Petrol Pumps Now Accepting Cards till 13 January

The decision that Petrol Pumps Now Accepting Cards till 13 January has been taken back and now Petrol Pumps will accept the debit as well as credit cards even after 13th January. Intended for sale of fuel via Debit and credit cards, decision taken back at this instant so as to unwind the consumers making Cashless Payments.

Petrol Pumps Now Accepting Cards till 13 January

Cashless Payments: Petrol Pumps Now Accepting Cards after 13 January

  • Even after 13 January, now decision taken regarding acceptance of Cards at Petrol Pumps.
  • As per the RBI Guidelines, Merchant Discount Rate (MDR) charges will be levied.
  • This decision revolves around the Banks and oil marketing companies (OMCs), regarding deferment of plan till 13 January.
  • Not to pay transaction charge anymore, while making non-cash digital modes of payments.
  • Besides this decision, 0.75% discount on fuel rate while making Digital payments will apply.
  • Further, strategies are decided under which customers or petrol pump owners escaped form bearing cost.
  • Due to fear of Transaction charges of up to 1% levied, petrol pump owners stop accepting Cards.
  • Surcharge not to be imposed on consumers as well as Petrol Pump owners.

Further Planning to Escape Petrol Pump owners from Charge

  • As per the statements of Petroleum Minister, Dharmendra Pradhan, efforts are made to relax the petrol pump owners from Merchant Discount Rate (MDR) charges as they are commission agents.
  • Even in February last year, strategies adopted not to bear the cost of MDR charges on digital transactions.
  • Government is looking forward so as to escape customers too, from making charges.
  • Prior to pronouncement of Non Acceptance of Cards, now Debit as well as Credit cards is accepted even after 13 January.
  • While 0.75% cash back incentive, also continues in future, tender a situation of Relax for customers.

RBI Circular on the amount of MDR

  • If a transaction is made below Rs 1,000, or in between Rs 1,000 and Rs 2,000 and those above Rs 2,000, MDR is to be charged. Government is not going to bear the cost of MDR.
  • Payment gateways, POS machine provider and banks/merchandise outlet are desired so as to make a digital payment via card.

Petrol Minister Dharmendra Pradhan Statements

“People can use cards for fuel purchases even after January 13.”0.75% cash back incentive that we have given to customers will also continue.” “It will be resolved before January 13. Bargaining and negotiations are going on. An amicable solution will be worked out.”

This is all about Petrol Pumps Now Accepting Cards even after 13 January. Subsequent to decision taken back, it give relax to consumers too. In order to grab more upcoming updates regarding Petrol Pumps Accepting Cards, stay in touch with us at coolexample.in

The Cool Team

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