Petrol pumps to stop accepting card payments from tomorrow

With 4 major banks deciding to charge for these from today, dealers say they have no other choice

Following a decision by four banks to levy a charge for every sale on a credit or debit card, two petroleum dealer associations have decided not to accept any card transactions at fuel retail outlets from Monday.

The decision covers a majority of the 56,000 outlets in the country. The four banks are HDFC, Axis, ICICI and Punjab National Bank.

"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