RETAILERS IN BARBADOS have been put on notice by the regional company with responsibility for millions of dollars in ATM and point-of-sale transactions.
Merchants have been warned to stop forcing customers to spend a minimum amount of money in order to use their debit cards for payment.
In a strongly worded statement yesterday from Caribbean Integrated Financial Services Inc. (CarIFS), the Barbados-headquartered company reminded merchants that they signed contracts with their individual financial institution and, by extension, with CarIFS, which barred them from directly or indirectly enforcing minimum purchases on customers.
The CarIFS system allows cardholders to use their debit cards to access funds from their savings and chequing accounts at 120 automated teller machines (ATMs) and more than 3 000 point-of-sale locations found in various businesses. (GE)
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