Fuel retailers, who are part of the Jamaica Gasoline Retailers’ Association (JGRA), will instead accept National Commercial Bank Keycard debit and credit cards, along with other debit cards.
The JGRA constitutes of 300 petrol stations across Jamaica under the control of 190 operators. JGRA’s chief spokesman, Errol Edwards, said that the association has been able to negotiate a lower rate for Keycard, which quoted a 1.8% processing fee per transaction compared to 2.3% charged for Visa and Mastercard credit cards.
The association has said that negotiations are still ongoing and banks are unable to offer a cheaper rate for Mastercard and Visa credit cards, as their rates are set by their parent companies, reported the news source.
Mr Edwards said: The recommendation to our members is for them to accept only the Keycard and the debit cards for fuel transactions. Mastercard and Visa cards will only be accepted if the cardholder is prepared to offer to pay the transaction fee.
