Opinion | Editorials
Drivers in a bind over credit cards
The lives of motorists in Dubai have always been exciting. They now have to get used to a whole new concept: swapping credit cards for cash as a form of payment at petrol stations.
- Gulf News
- Published: 23:04 October 21, 2007
The lives of motorists in Dubai have always been exciting. They now have to get used to a whole new concept: swapping credit cards for cash as a form of payment at petrol stations.
Service stations have stopped accepting credit cards from customers. The decision, initiated by the fuel companies, has left the customer - who, as the market dictates, "is king" - puzzled and helpless. Moreover, this new policy is not based on economic rationale and is a deviation from common global practice.
The controversy, as it currently stands, is based on the alleged standoff between credit card and fuel companies on a transaction fee. Neither seems to be willing to budge and the consumer has been caught in the crossfire.
The UAE has the highest per capita credit card concentration in the Middle East with about 60 per cent of the population using it, therefore commercial interests involving ratification of fees, which the consumer bears anyway, should not deprive them from the benefits of using a card.
Any attempt to encourage such a practice would only serve to take a backward step, from technology driven advantages to the conventional mode of payment. In sum, it is taking a step back when the rest of the world is moving forward.
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