Gasoline retailers could scrap a plan to stop accepting credit cards for fuel purchases if financial institutions agree to revise their processing fees.
The Jamaica Gasoline Retailers Association (JGRA), yesterday put on hold, its decision for members to cease accepting Visa and MasterCard credit cards.
The news came just hours before the scheduled implementation.
The suspension is until November 1.
JGRA President Derrick Thompson says if there is a reduction in processing fees by banks, gasoline retailers will continue accepting credit cards.
He says the Association is to meet this week with financial institutions to discuss the matter.
Last week, the JGRA warned that its members would stop accepting some credit cards because the processing fees, set by banks, were too high, and the venture was unprofitable.
However, it explained that it postponed the decision, following an emergency meeting at its offices in Kingston yesterday.
The JGRA said the decision was made after major interventions by financial institutions and other stakeholders.
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