Rates reduced - Nov 1 credit card deadline no longer valid

Chad Bryan, Gleaner Writer

After weeks of discussions and a second deadline of November 1 for cutting off credit card payment for fuel inching closer, the Jamaica Gasolene Retailers Association (JGRA) has decided on yet another extension.

This comes as negotiations between the JGRA and financial institutions appear to be yielding fruit. According to the immediate past president of the JGRA, Trevor Heaven, "We have been having further discussions with the banks. They have been quite responsive and we are happy about that. They have reduced the rate, but we cannot say what it is until our discussions have ended. However, we continue to take credit cards."

He also added that the date at which the deal would be hammered out would be arrived at shortly. "We do not want to give a date just yet, but in short order we will be able to make an announcement to the public," said Heaven.

In August, coming out of an emergency meeting, the JGRA decided that as of October 1 they would no longer accept Master or Visa credit cards for fuel sales because of the associated high bank charges and the need to cut costs. However, amid growing concern from the public, the decision was taken by the JGRA to postpone the implementation to November 1.