Share to LinkedIn. Share to Messenger. With more small businesses adopting digital channels, India could see millions of new users enter the digital ecosystem. From October 1, credit card payments to buy fuel at petrol pumps will not get a 0.75 % discount that State-owned oil companies had introduced more than two-and-a … Shopping. Consumers and petrol pump dealers from today onwards no need to pay the transaction cost. The payments industry, which saw unprecedented changes and challenges during the pandemic crisis last year, expects 2021 to be the year of innovation. The 0.75 per cent discount on payments made using either credit/debit cards, e-wallets or mobile wallets translated into a rebate of about 50 paise a litre on petrol and diesel. A last-minute intervention from the govt on Sunday ensured that petrol pump owners accepted card payments till January 13. But as of 19 January 2021, Tesco admitted not everyone had been contacted as it didn't have details for all affected shoppers – presumably it only had records for Clubcard users and Tesco Bank customers. He said dealers have been working on a low margin and demanded raising the dealers' commission to 5 per cent from the existing 3 per cent taking petrol and diesel together.A Petroleum Ministry release subsequently clarified that there will be no additional levy on digital transaction at petrol stations even after Friday. BPCL SBI Card offers 4.25 per cent value back which is similar to 13x reward points on fuel refill at BPCL petrol pumps. Petrol pumps across the country will continue to accept credit and debit cards till Friday, it was announced on Monday. To promote cash-less transactions, the government had waived the Merchant Discount Rate (MDR) on fuel purchase post demonetisation for consumers. Share to Telegram. I didn't receive my OTP. It was the case until couple of years bank. Share to Facebook. ................................ Advertisement ................................ 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If playback doesn't begin shortly, try restarting your device. India gears up for a robust digital ecosystem as e-payments witness an upward trend. But after the expiry … Check if you have entered the correct mobile number and your mobile has network coverage. "The Government had issued guidelines in February 2016 stating that the Merchant Discount Rate (MDR) charge will not be passed on to the consumers and that the stakeholders will take appropriate steps to absorb the MDR charges," it said. To promote cash-less transactions, the government had waived the Merchant Discount Rate (MDR) on fuel purchase post demonetisation for consumers. Credit card payments to buy fuel at petrol pumps will from October 1 not get a 0.75 per cent discount that state-owned oil companies had introduced more than two-and-a … 25,000 p.m. IndianOil Axis Bank Credit Card: Rs. The supermarket initially told us it had contacted all affected customers telling them when payment would be taken. A last-minute intervention from the govt on Sunday ensured that petrol pump owners accepted card payments … Yesterday I went to a BPCL petrol pump to fill petrol in my car, where it all happened. I asked the attendant for a “Full Tank”.I generally get out of my car and stand near the person filling it, but I was in a conversation with my friend and trusted the petrol pump as I have been there quite a number of times. Petrol pump owners threatened to stop accepting card payments, forcing the government to broker a settlement. This could be up to £100. The case was: Lets say you have a HDFC bank credit card & the petrol pump have an HDFC bank EDC, then there were no charges. Share to Twitter. This will lead to financial losses for the dealers," Bansal wrote.Jaitley on Monday said the Centre was discussing with all the stakeholders about the issue of levying transaction fee for payments through cards for selling and purchasing fuel. 1,000: Up to 71 Litres* of fuel for free per year: Rs. NEW DELHI: Credit card payments to buy fuel at petrol pumps will from October 1 not get a 0.75 per cent discount that state-owned oil companies had introduced more than two-and-a … 500: 4% value back on fuel purchase at IOCL outlets Don't worry, you’ll get your money back in 3-4 days. Petrol pump operators had yesterday threatened to stop accepting card payments after banks said the transaction charges of up to 1 per cent will have to be borne by them. Keep in mind that most credit cards charge an annual fee. Track Latest News Live on NDTV.com and get news updates from India and around the world. Petrol pumps across the country will not accept credit and debit card payments for fuel sales from Monday after banks decided to put transaction (MDR) charge on them instead of consumers. The petrol station has made a pre-authorisation charge to validate your BigPay card. "We are trying to resolve the issue," he said.The AIPDA decision not to accept payments through cards came at a time when the Centre had directed state-run oil companies to offer a 0.75 per cent discount on price of petrol and diesel to consumers paying by cards or mobile wallets to encourage people to move towards digital payments. Neither customers nor fuel dealers will have to bear transaction charges for card payments at petrol pumps, says oil minister Dharmendra Pradhan Share Via Read Full Story Before you opt for a credit card especially to cater to your fuel purchase needs, make sure your card is accepted at most petrol pumps or the ones you are more frequent. Petrol pump operators had yesterday threatened to stop accepting card payments after banks said the transaction charges of up to 1 per cent will have to be borne by them. I got cheated at a Petrol Pump yesterday for ₹ 400. If that’s not the case, you may end up losing out on the potential benefits of a credit card. There will be no additional charges on digital transactions made at petrol stations, Petroleum Minister Dharmendra Pradhan announced on Monday even as petroleum dealers threatened to stop accepting credit and debit cards after Friday. For our suggested Payment Gateway partners in the app/website (option called Pay Online Now)- any excess charge incurred by the payment mechanism is displayed as "convenience fee" at the time of choosing the payment method. The same is payable by you (customer) over and above our charges and is collected by the Payment Gateway provider, and not by MyPetrolPump as a service charge. "We kept a close watch. "In a letter to Jaitley, AIPDA President Ajay Bansal said HDFC and other banks would start charging one per cent on all credit card transactions and between 0.25 and 1 per cent on all debit card transactions from Monday. When you insert or tap your card at a self -service pump, your bank will temporarily reserve an amount from your available balance while you fill up. Tap to unmute. The minister said the government will abide by guidelines issued in February 2016 wherein it stated customers won’t bear extra charges on digital transactions. Accordingly, we have decided to continue accepting payments through cards till Friday," AIPDA West Bengal unit General Secretary Saradindu Pal told IANS.West Bengal Petroleum Dealers Association President Tushar Kanti Sen said: "We took the decision very late on Sunday night because some banks communicated they would not levy transaction fee till January 13 but some did not. But not to worry, once you’ve finished filling up, this will be updated to your bank and you’ll … Follow our special coverage of Assembly Elections 2021 and get fastest results on ndtv.com/elections. Agencies The 0.75 per cent discount on payments made using either credit/debit cards, e-wallets or mobile wallets translated into a rebate of about 50 paise a litre on petrol and diesel. ⁄ At Petrol Pumps No Extra Charge For Card Payments Says Government पेट्रोल पंप पर डेबिट-क्रेडिट कार्ड से पेमेंट करने पर नहीं देगा होगा कोई चार्ज The All India Petroleum Dealers Association (AIPDA) on Sunday announced that it would not accept payments through credit and debit cards from Monday in protest against various banks' decision to levy additional transaction charge of up to one per cent on petrol pumps instead of on customers. https://www.bankbazaar.com/credit-card/fuel-credit-cards.html Petrol pumps across the country will not accept credit and debit card payments for fuel sales from tomorrow after banks decided to put transaction (MDR) charge on them instead of consumers. Payments by credit and debit cards at petrol pumps have gone up since the notes ban. Petrol pump owners deferred till January 13 their decision to not accept credit and debit card payments for fuel sales after banks put off the move to levy the transaction (MDR) charge. Credit card payments to buy fuel at petrol pumps will from October 1 not get a 0.75 per cent discount that state-owned oil companies had introduced more than two-and-a-half years back to promote digital payments. Share to WhatsApp. However, following the expiry of the 50-day window on December 31, banks had decided to charge the MDR on petrol pump owners and not the consumers. "Neither the customers nor petrol pumps will bear additional charges on digital transactions. a. Card Name: Annual Fee: Fuel Benefit: Minimum Income Requirement* BPCL SBI Card Octane: Rs.1,499: 25X Reward Points on fuel purchases at BPCL petrol pumps: Check with bank** IndianOil Citibank® Platinum Credit Card: Rs. "Late on Sunday, banks communicated to us they will not levy the transaction fee on card payments till January 13. No charges on card payments at petrol bunks: Pradhan . Show us some love and support our journalism by becoming a TNM Member - Click here. Thanks to comprehensive reporting, many fuel cards allow business owners to receive real time reports, stay informed of all business expenses and manage vehicle taxes. On Monday, AIPDA said pumps across the country will continue to accept cards till Friday, as banks have deferred charging transaction fee till then. Joining fees are Rs.150, reload fees are Rs.100, and there is a 3.5 percent + GST cross-currency charge. Eventually, the Ministry requested us to defer the decision till January 13. MUMBAI: A year after the Reserve Bank of India (RBI) announced a cut in charges on debit card transactions, banks continue to impose a fee of 2.5% for payments at petrol pumps, thereby making an undue gain at the cost of the consumer. It can be used as a payment card for petrol, diesel and other fuels at petrol stations. To avoid the charge next time, pay directly at the cashier, not at the self-service pump. "Government will abide by guidelines issued in February 2016 wherein it stated customers won't bear extra charges on digital transactions," Pradhan said.The minister said the discussions between the petrol pump association and banks over card transaction charges does not affect consumers, since it focuses on sharing of the merchant discount rate (MDR) charges between petrol pumps and banks, none of which will be passed on to consumers. You're signed out. But after the expiry of the 50-day window, the … These cards can also be used to pay for other vehicle operating expenses such as repairs, maintenance and roadside assistance. This meant petrol pumps would have to pay one per cent on all credit card transactions and between 0.25 per cent and 1 per cent on all debit card transactions. However, it has confirmed that all customers have now been debited – so it's best to check your card … The All India Petroleum Dealers Association (AIPDA) decided to revise its earlier decision after consulting the Petroleum Ministry as banks deferred charging transaction fee up to one% on card payments. The issue will be resolved," Pradhan told reporters here after meeting Finance Minister Arun Jaitley over the matter. A card can be used for online purchases as well as physical swipes all over the world. "This discount amount was supposed to be reimbursed to the dealers but is not being executed properly," Pal said. "Regarding the issue, it is a business module between banks and oil marketing companies which they will resolve. No charges on card payments for customers, petroleum pumps: Petroleum Minister . AddThis Sharing Buttons.