According to Bank Negara, Merchants are not supposed to impose minimum amount for payment via credit card!

Did you know? According to Bank Negara Malaysia, merchants/retail outlets in the country are not supposed to impose a minimum amount when it comes to payment using credit/debit cards?

This was a question that was posted to Bank Negara recently and checks with the credit card operators (Visa & Mastercard) stated the same thing as well.

So why do the shops set a minimum amount that consumers must meet before they are allowed to pay via credit card? According to some that I talk to, they have to pay a transaction fee to the payment system operator for each transaction via the card machines and most shop owners does not want to pay for transactions that is below their stipulated amount as it would mean less profit for them.

While more and more shops/retail operators out there is starting to embrace the cashless transactions, some are still adamant about only allowing transactions to go through when a minimum amount is met. How I know? Some shops put up signs indicating the transaction terms and some, like one that I recently went to, told me so, even though I was buying amout 40+ ringgit worth of product and didn't carry cash with me and was told that they won't let me pay via debit card because it did not meet their minimum amount for transaction.

So what can you do? You can lodge a complain to Bank Negara Malaysia with the information they need. And they will take it from there.
  • Merchant Name:
  • Address:
  • Acquirer's name (can be found on the credit card transaction receipt)
  • Nature of complaint:

Hope this helps to clear up some misinformation that merchants selectively want to follow. 

Michael Yip

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