Friday, October 14, 2005

Credit card issue at a crossroads

The Star

IN every story, there are always two sides to the coin. In the current furore over usage of credit cards at petrol stations, it is looking more like a clash of the titans – banks and petroleum companies – on who should bear more of the credit card charge or discount fee.

Both sides are looking at each other – who is making more money and, therefore, would be in a better position to bear more of the costs.

For a fact, the bankers are literally up in arms over this. Their main contention is they have invested heavily in the migration to chip cards and other related technology. They also pay for loyalty programmes and fund customers.

Both the banks and petroleum companies have shareholders to take care of. It would be equitable if both parties can come up with a compromise in the interest of corporate responsibility.

A follow-up meeting between all parties concerned is scheduled for next week with the Domestic Trade and Consumer Affairs Ministry. In response to a StarBiz query, the Shell Malaysia retail division said: “Shell would like to reassure the Malaysian motoring public that customer convenience and service standards at Shell retail stations nationwide remain optimum and will not be compromised.’’

The bankers said they were still committed in providing convenience to customers but just wanted to see some adequate returns.

Read full story: Credit card issue at a crossroads...The Star

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