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Service fees for card payments are now calculated based on the new limits
Service fees for card payments are now calculated based on the new limits
Interbank service fees for domestic card payments are now calculated under new limits.
The maximum rate is 1.25% for pharmacies and supermarkets, 0.75% for fuel stations, and up to 1.5% for other general categories. No specific upper limit has been set for certain sectors.
Economist Khalid Karimli explained that interchange is the fee one bank pays another when a card payment is processed. According to him, the main objective of the regulation is to increase cashless transactions and support the further expansion of the POS terminal network.
Interbank service fees for domestic card payments are now calculated under new limits.
The maximum rate is 1.25% for pharmacies and supermarkets, 0.75% for fuel stations, and up to 1.5% for other general categories. No specific upper limit has been set for certain sectors.
Economist Khalid Karimli explained that interchange is the fee one bank pays another when a card payment is processed. According to him, the main objective of the regulation is to increase cashless transactions and support the further expansion of the POS terminal network.