Fuel purchase with cards: framework for levy by Jan 16

Our Bureau New Delhi | Updated on January 27, 2018 Published on January 12, 2017

A framework to levy a merchant discount rate will be in place by January 16. “Consumers and dealers will not bear any burden of MDR on debit card transactions at oil marketing companies’ retail outlets. A proper mechanism will be put in place by January 16, and the rate will be based on the negotiations between OMCs and banks,” Oil Minister Dharmendra Pradhan said in a statement.

The AIPDA noted that its members would accept credit or debit cards on fuel purchase as long as the MDR levy doesn’t have to be borne by them. Debit/credit and e-wallet payments will continue to be accepted at all 54,840 petrol, diesel retail outlets, said AIPDA President Ajay Bansal.

Published on January 12, 2017
This article is closed for comments.
Please Email the Editor