Senate Status Committee on Finance chaired by way of Salim Mandviwala emphasised the enforcement of bank card fee rules.
FBR chairman confident strict measures to safeguard outlets settle for bills thru bank cards, declaring it is going to now be obligatory for companies to facilitate such transactions.
“Retailers must accept payment via credit card, or face closure,” declared FBR chairman, highlighting the repercussions for non-compliance.
Senator Sherry Rehman voiced considerations over outlets bringing up technical problems as excuses for no longer accepting bank cards, urging rapid motion to get to the bottom of such impediments.
“We can’t tolerate delays in implementing these measures,” Senator Rehman wired. The committee underscored that handiest 3 lawsuits in line with life or 5 in line with month from customers would begin regulatory motion in opposition to non-compliant companies.
Moreover, companies failing to factor no less than 3 receipts in line with life or 5 receipts in line with month by the use of Level of Sale (POS) techniques will face consequences as much as Rs500,000.
FBR chairman stated enforcing a brandnew tracking dashboard to trace the operational condition of POS machines throughout stores, bettering oversight and duty.
