Higher cost: A petrol station in California. Visa and Mastercard are planning a slew of changes to rules for petrol stations to allow larger transactions after the surge in fuel prices. — Bloomberg
NEW YORK: Visa Inc and Mastercard Inc are planning a raft of changes to rules for petrol stations to allow larger transactions after a surge in fuel prices across the United States made it hard for some drivers to fill up using credit cards.
Many petrol stations have a US$125 (RM526) limit for Visa transactions at the pump because larger transactions trigger higher fees for certain cards, as well as additional liability in the event of fraud.
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