Petrol pumps won't accept card payments from Monday
The move was made after four banks decided to levy a charge for every sale on a credit or debit card.
HDFC, Axis, ICICI and Punjab National Bank are the four banks who have decided to levy a charge for sale on cards.
"We have been informed by these four banks that we will be charged one% on all credit card transactions and between 0.25% and one% on all debit card transactions from January 9. Reports suggest even State Bank of India is planning to charge the same. We feel banks are using this as an excuse to improve their bottom line through transactions at fuel stations. Hence, we have decided not to accept any card transactions from Monday," A D Sathyanarayan, president of the Consortium of India Petroleum Dealers,was quoted as saying by Business Standard news paper.
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