E-Payment service
All businesses operating in the nation must comply with a regulation from the Ministry of Commerce and Industry (MoCI) that requires them to offer customers an electronic payment option without charging them more.
“Following a concept of ‘less cash more safety’, it has been made mandatory for all commercial outlets to provide one of three types of electronic payment services — bank card, bank payment wallet or QR code to customers,” MoCI has tweeted.
The Ministry said that dealing in cash necessitates time-consuming procedures including transporting cash to the banks and withdrawing money from a bank. Electronic payments, according to the article, contribute in lowering the danger of forgery and currency theft.
All business establishments that provide bank card payment services, including credit cards and debit cards, were requested by MoCI in a circular not to impose any additional fees for card use.
In the meantime, the relevant authorities have stepped up their efforts to set up a complete infrastructure for the nation's electronic payment system.
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