Economy, Domestic Economy

POS Fees Opposed

 POS Fees Opposed POS Fees Opposed

Many Iranian guilds have opposed the decision by the Central Bank of Iran (CBI) to charge fees for transactions through point of sale machines (POS). They argue that charging the transactions on POS terminals will promote using cash transactions and will also lead to arbitrary price hike. The Money and Credit Council is expected to decide the amount of the fee for transactions on POS terminals. Many shop owners say they will stop using the POS as soon as the banking system starts charging them for the transactions.