Debit card trans­ac­tion charges im­pact Vizag IT busi­ness

The DQWeek (Chennai) - - FRONT PAGE - SUKSHAM SHARMA Vishakha­p­at­nam Con­tin­ued on page 2

Prior to de­mon­e­ti­za­tion in past few months bank cus­tomers were al­lowed to with­draw money free of charges from their nearby ATMs and ev­ery trans­ac­tion be­yond lim­its was charged.

Talk­ing to few lo­cal IT deal­ers in Vishakha­p­at­nam, a ma­jor con­cern was the on­go­ing hang­over of de­mon­e­ti­za­tion. There is still no cash flow in the IT mar­ket of Vizag and the mar­ket slow­down still con­tin­ues.

There is no as such sales hap­pen­ing as peo­ple in the re­gion are not ready to spend on IT prod­ucts also card swip­ing fees is the ma­jor rea­son of no pur­chase says P.D Christo­pher of AARON Tech­no­log­ics, a lo­cal IT dealer in Vizag.

Few banks have re­stored trans­ac­tion fees for debit card pay­ments be­cause of which peo­ple are now not ready to swipe their cards un­less it’s re­ally im­por­tant for them.

The term swipe fees, also known as in­ter­change fees, refers to the hid­den cost paid by mer­chants to card-is­su­ing banks and credit card com­pa­nies for pro­cess­ing credit card and debit card trans­ac­tions.

P.D Christo­pher also shared, “Swip­ing charge is a ma­jor prob­lem among the cus­tomers nowa­days. I feel if we are as a na­tion push­ing dig­i­tal­iza­tion then our gov­ern­ment should also im­prove such fa­cil­i­ties for the cit­i­zens so that we as deal­ers and they as cus­tomers should not be fac­ing such bar­ri­ers in the dig­i­tal­iza­tion way. We are also stuck with our own re­straints, can’t help it.. The mar­gins are less thus we can’t avoid such trans­ac­tion charges from our side”.

Nanaji of ARUNA Com­put­ers also shared, “Cash back schemes from the plat­forms like Paytm (on­line por­tal) is also cre­at­ing prob­lems for re­tail deal­ers like us. The mar­ket in our re­gion is al­ready go­ing through many ups and downs. Its tak­ing a lot

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