|(Photo credit: 401(K) 2013)|
While he was commenting on an attempt by a GEMS school to levy a 2% processing fee on credit and debit card transactions, his clarification also applies to Emarat and EPPCO/ENOC service stations, which charge the fee on credit card transactions for fuel. This surcharge appears to have been the resolution of a spat between the credit card companies and the fuel distributors dating back to 2007 - and the early days of this here very blog. The story from way back then is suitably linked 'ere. Basically, the retailers (not ADNOC, you'll note) have always charged extra for credit card purchases, in violation of the card issuers' agreements and when the card companies kicked off, the retailers just stopped taking credit cards. They've recently started again, but with a Dhs2 'service fee' on any transaction for fuel up to Dhs100. In short, 2%...
“Retailers who are charging extra fees on the credit card or debt card payments are violating the consumer protection law and will be subject to penalties,” Mr Bu Shahab told the newspaper that tells it like it is.*
So it'll be interesting to hear what the petrol companies say when the media come calling, won't it?