No fee for EFTPOS transactions: FCCC
November 6, 2019 12:25 pm
No fee is to be charged by traders for EFTPOS transactions as mandated by the Government.
The Fijian Competition and Consumer Commission have pointed out some traders are continuing charging consumers for use of EFTPOS.
Abraham says EFTPOS fees were waived to ensure adequate consumer protection, in a move towards a more cashless economy.
“What we are doing is now we are looking at what’s happening in the market and we have pinpointed some traders who are charging this. Not just that we are also looking at instances where traders are saying that there is a particular percentage of surcharge. The surcharge is supposed to be passed down off cost.”
Abraham says commercial banks do not set a minimum payment amount for the use of EFTPOS terminal to pay for goods and services however, the minimum amount depends on the merchant.