Bankers Association hopes petroleum dealers find another solution

Friday, October 28, 2016 - 07:00

The Bankers Association says it hopes that the Petroleum Dealers Association can find another solution to the issue of electronic cards at the pumps.

The Association has issued a statement expounding the merits of electronic cards in today's society.

The following is the statement by BATT:

"The Bankers Association of Trinidad and Tobago (BATT) has taken note of the Petroleum Dealers Association’s (PDA) comments related to the elimination of electronic payments at its membership of gas stations throughout the country.

While BATT understands the PDA’s position, particularly as it relates to the increased operating costs its retail network is faced with, BATT wishes to underscore the immense benefits electronic payments offer not only the customer but also the merchant.

Electronic payments – both debit and credit cards provide customers with convenience and ease of doing business, as well as safeguards them against unwanted attention from having too much cash in their possession.

In today’s fast paced world, as customers become more technologically savvy, electronic payments are the norm, making customers’ lives easier.

Furthermore, for the merchant/retailer, processing transactions electronically saves time and money and enables them to attract customers who do not wish to keep cash in their possession.

As BATT continues in its thrust towards enhanced customer experience and the education and awareness of banking services and products that help enrich the lives of customers, the Association is hopeful that another solution can be reached."