Petroleum Dealers Association of Malaysia Rejects Credit Cards
June 25, 2008 – 6:17 pmPetroleum Dealers Association of Malaysia has urged all their members to stop accepting credit cards from customers. This is because that while their profit per litre of petrol or diesel remains the same, their transaction fee has gone up. Petrol stations need to pay banks 1% commission for every credit card transaction and they claim that this is eating into their profit margin.
I personally think that they are doing the right thing by rejecting credit card transactions rather than absorbing the commission or forcing customers to absorb it. Since they are not making money they should stop doing the business. They too need to change with times.
Of course, this inconvenient motorists because it means that they would need to pay cash each time they fill their tank. In a way, this would also cause hardship on people because it just dawned on me that some people are buying fuel on credit! This should not be the case but times are bad. Don’t you just see more and more people getting into credit card debt?
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Tags: credit card, credit card transactions, credit cards, petrol stations Malaysia, Petroleum Dealers Association of Malaysia
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