BUSINESS

Fines for firms that can’t take card payments

EVGENIA TZORTZI

TAGS: Economy

A Finance Ministry bill provides for the imposition of fines on companies and professionals that do not have card terminals installed even though their business involves transactions with consumers.

The bill, on the expansion of electronic transactions, also provides for a reduction in the commission banks charge for debit card transactions from 0.2 percent to 0.1 percent, to cut business expenses.

The fine, proposed at three or four times the cost of installing a card terminal, is aimed at forcing professionals and enterprises to use the terminals, which will see the penetration of card use grow further.

Given that the cost of a card terminal ranges from 130 euros to 450 euros, the fine is expected to range between 500 and 1,000 euros. The proposal also provides for the exemption from fines of professionals and enterprises who have already applied for the installation of a card terminal but their request has been rejected by a bank.

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