The Department of Business Development has announced that all businesses should provide at least one card payment system for customers.
Director-General of the Department of Business Development, Banjongjitt Angsusingh said the availability of at least one card payment system at all businesses would provide customers with a convenient cashless option, in accord with the country’s agenda to implement a nationwide e-payment infrastructure which would enhance the efficiency of transactions.
The national e-payment program is a government sponsored campaign to reduce the use of cash, and transition towards low fee cards for transactions, in line with the government’s digital economy agenda of developing the country’s financial infrastructure to enhance economic competitiveness.
Benefits of the national e-payment program include fast and convenient transactions for the public, reduction of fees associated with managing cash, and bringing off-the-grid business transactions into the financial system.
Banjongjitt added that businesses can now choose from a range of card payment systems such as the Electronic Draft Capture (EDC) machine or the Mobile Point of Sale (mPOS) machine, while the government will also provide benefits for those acquiring the machines such as installation fee waivers and various tax incentives.
Businesses can apply at any commercial bank that is registered by the Ministry of Finance for a suitable installation. (NNT)