The scheme of receiving fees from purchase transactions will be implemented from tomorrow

Based on the amendments made by the central bank in the banking fee system, the acceptors of electronic payment transactions and the issuing banks of the accepting bank card to which the store’s card reader belongs, will have to pay a fee for purchase transactions from tomorrow.

The plan to receive fees from purchase transactions, which was supposed to be implemented from June 21, 1402, was delayed by two weeks due to the lack of infrastructure of some banks. Now this two-week postponement has ended and according to the announcement of the Central Bank, this plan will be implemented from tomorrow, July 4th.

Mehran Moharmian, the vice president of new technologies of the Central Bank, announced this news in an interview with Tasnim and assured that “according to the schedule and planning, this project will be implemented from tomorrow.” The important point regarding the implementation of this plan is that the transaction fee for purchases from bakeries and supermarkets will still be paid by the receiving bank and these stores are exempt from paying this fee until further notice.

In the new purchase transaction fee model, all stakeholders of a transaction, including the card issuing bank, the accepting bank (account behind the card reader), and the transaction acceptor (store) pay a fee. Of course, the fee that can be collected from the card holder is zero. With these changes, the banking network and the receiving bank have the highest share in paying the fees for card purchase transactions.

Based on the new fee system in the payment network, the owners of card reader devices pay a fee for each purchase transaction from 1,200 rials up to the maximum set limit depending on the transaction amount. The minimum fee is 1,200 Rials (120 Tomans) for transactions of 6 million Rials (600,000 Tomans), and for higher transactions, this amount will be increased step by step up to the set limit.

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