Finance Minister Marinka Gumbs.
~Says offenders will be blacklisted~
PHILIPSBURG--Businesses in the country that continue to impose a purchase limit on consumers who use their debit or credit cards for payments, can be blacklisted, have their machines taken away and not receive a machine from any bank in the country.
Finance Minister Marinka Gumbs, who had raised the issue in the past, made this clear during the live Council of Ministers press briefing on Wednesday.
“I have been informed that some vendors are still imposing a minimum limit, and I would like to urge them to stop this practice immediately. As a consequence for this illegal practice, two things can and will be done: the merchant’s machine can be taken away and they can be blacklisted which will not allow them to acquire a machine at any other bank,” Gumbs told reporters in her opening remarks.
She reminded that “on Wednesday July 24, during the press briefing, I expressed my concern about vendors enforcing a minimum amount for card transactions and also passing on their bank charges to the consumers. I raised this issue with the Central Bank and requested that they address it with the St. Maarten Bankers Association. I am pleased to see that the St. Maarten Bankers Association, in collaboration with all banks on St. Maarten, has issued a press release on this matter in September and continues to raise awareness in letting the consumers know their rights, as some businesses are taking advantage of the consumers.”
The association made clear in its notification that merchants are not allowed to enforce a minimum purchase limit for accepting debit or credit card payments. Customers have the right to use their cards for any transaction amount, up to their available balance.
Gumbs again encouraged customers to report any violations, which she said she has been seeing on social media platforms lately. Violations can be reported to: sintmaartenbankersassociation@gmail.com
In September, the St. Maarten Bankers Association raised the alarm that some merchants were not adhering to the terms and conditions of their Point of Sale (POS) machines and called on consumers to exercise vigilance.
The association said some customers had reported that they had been charged a percentage on top of the sale/purchase amount for the use of the machines to process their transactions and that they have been refused the option of using their credit/debit card for transactions below a certain amount.
The association said customers should be aware that no additional fees should be charged when they use their bank cards and retailers and merchants were not allowed to charge any additional fees for processing debit or credit card transactions. Customers can expect to pay the same price regardless of their payment method.
There also should be no minimum purchase limit and all member banks support the acceptance of both Mastercard and Visa debit cards, ensuring that customers can use their preferred card without any issues.
Merchants are also required to visibly display signage that indicates the acceptance of credit and debit cards, including the logos of Mastercard and Visa. This, the association had said, ensures transparency and convenience for customers. The association encourages all merchants to adhere strictly to these Visa and Mastercard guidelines and urges customers to report any deviations.
https://www.thedailyherald.sx/islands/minister-of-finance-warns-merchants-to-stop-imposing-purchase-limit-for-cards
