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BSP Removes Surcharge on Locally Issued VISA Debit Cards.

Sunday, September 25, 2022

The BSP Financial Group Limited (BSP) has announced that it has removed Surcharge Fees on all locally issued Visa Debit cards (VDC) transacting on BSP EFTPoS terminals.

BSP Country Head, Haroon Ali said, “Removing this surcharge fee enables our EFTPoS merchants to process transactions from a wider group of local VISA Debit cardholders, other than only BSP customers.  This essentially means fee free transactions for cardholders and reduced transaction processing fees for merchants”.

“We are delighted to make it cheaper for BSP EFTPoS Merchant’s to accept locally issued VISA Debit cards which is a more convenient way of receiving payments for sale of goods and services rendered. Also, customers prefer the simplicity of cashless and contactless transactions, available through scheme branded cards, such as VISA Debit which allow for “tap & go” facility on BSP EFTPoS terminals”, he added. Furthermore, BSP customers no longer need to have both, a Visa Debit Card and the local proprietary EasyCard that was primarily held to avoid any Surcharge Fee” said Mr. Ali.

“The surcharge fee waiver does not apply to credit cards and offshore debit cards being processed on BSP EFTPoS Terminals”.

BSP continues to play a leading role in Fiji’s digital banking journey and this decision to waive surcharge fees resonates with the Government’s initiative for a cashless society.

“BSP is Fiji’s largest banking network with 16 branches, 35 Postal Agencies, 121 ATMs and over 2,000 EFTPoS Terminals across the country.