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March 29, 2012

UAE: Ministry of Economy approves card surcharges for fuel

The UAE Ministry of Economy has approved surcharges on credit card payments at petrol stations. The decision comes five years after the Ministry had suspended credit card payments in 2007 due to high surcharge fees Last year, the Ministry approved the use of credit cards at petrol merchants again, but now, pressure from petrol merchants led the Ministry to allow surcharges on card payments for fuel.

By Verdict Staff

The UAE Ministry of Economy has approved surcharges on credit card payments at petrol stations.

The decision comes five years after the Ministry had suspended credit card payments in 2007 due to high surcharge fees.

Last year, the Ministry approved the use of credit cards at petrol merchants again, but now, pressure from petrol merchants led the Ministry to allow surcharges on card payments for fuel.

Petrol merchants will be allowed to charge AED2.00 ($0.54) for each credit card transaction.

The decision to reinstate credit card payments and allow surcharges is part of the Ministry’s plans to spur the UAE’s economic growth, the Ministry and the Supreme Committee for Consumer Protection said.

Credit card payments for fuel were initially banned in 2007 because too many petrol merchants complained about higher operating costs on the back of rising oil prices.

 

 

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