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.
Stay up-to-date with more news on Trend News
Agency’s WhatsApp channel