KOBİA Highlights Impact Of Rising POS-Terminal Fees On Retailers

(MENAFN- Trend News Agency) BAKU, Azerbaijan, April 25.​ One of the challenges in the retail sector is the increase in service fees for POS (Point of Sale) terminals by banks, said Samir Abdullayev, Chairman of the Public Council under the Small and Medium Business Development Agency (KOBİA), Trend reports.

Speaking at a public discussion on "The Role of Retail Networks in a Market Economy: Opportunities and Prospects," Abdullayev noted that retail networks serve the broad consumer rights and support the government's efforts to expand cashless payments by promoting the use of POS terminals among consumers.

"Cashless payments through POS terminals have reached a significant share. Since January of this year, some of the banks we cooperate with have increased service fees for the use of POS terminals by up to 1.5-2 percent.

The increase in tariffs by banks has led to higher costs for businesses operating with low margins in the retail sector. The issue of reviewing and lowering service fees was widely discussed in a meeting held in 2023 with the participation of the Retail Networks Development Public Union and its members at the Central Bank," he said.

The public discussion was organized by KOBİA and the State Anti-Monopoly and Consumer Market Control Agency. The event was attended by representatives of relevant government agencies, entrepreneurs, and media representatives.

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