SBP caps bank charges on digital sales of petroleum products to minimise burden on fuel stations
ISLAMABAD: Following demands from petroleum dealers, the State Bank of Pakistan (SBP) has capped bank charges on sales of petroleum products through digital payment methods — including debit and credit cards and online transfers — to minimise the financial burden on fuel stations and promote digital inclusion. Under the decision, merchant discount rates (MDR) for card-based petroleum transactions…
The State Bank of Pakistan (SBP) has capped bank charges on digital sales of petroleum products to alleviate the financial burden on fuel stations and promote digital inclusion. Merchant discount rates (MDR) for card-based transactions have been capped at Re1 per litre, while charges on online transactions conducted through QR codes and Raast have been capped at 20 paisas per litre.
This decision comes after petroleum dealers demanded a reduction in transaction fees, which previously ranged between 0.7pc and 1.5pc, resulting in a transaction cost of Rs3-4 per litre. The new rates are expected to remain in place until January 31, 2027.
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