Traders are not allowed to impose a surcharge on credit card

24Nov09

A example of Credit Cards

This is what the Second Finance Minister Datuk Ahmad Husni Mohamad Hanadzlah said ” Traders, in principle, are not allowed to impose a surcharge on purchase made using credit cards ” . He added said the restriction was in line with the regulation set by credit card brands such as MasterCard Worldwide and Visa International, and the terms spelled out in the agreement between traders and merchant acquirers.

“Card holders can actually inform the merchant acquirers or credit card issuers on the surcharge by submitting proofs, such as receipts, so that investigation can be carried out.

“Card holders can also choose not to buy from traders who impose the surcharge,” he said in reply to Datuk Abdul Rahman Dahlan (BN-Kota Belud) at the Dewan Rakyat yesterday.

Traders have explained to me that they have to impose a surcharge beacause of they have to pay high commission to the Credit Card company . Without the surchange they literally sacrificed at least 2% to 3 % of the Invoiced price to the customers. In time like this , can they afford it ?

Maybe the best solution is , pay in cash or dont buy at all .



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