BSP promotes use of bank cards as the safer way to pay

Date: Friday 20 March 2020

Bank of South Pacific, BSP, is encouraging customers and its BSP Point of Sale (POS) merchants to use bank cards and reduce the physical exchange of cash in response to the COVID-19 pandemic.

Responding to the World Health Organisation warning against the use of cash to reduce the risk of transmission, BSP General Manager Retail, Mr Ravindra Singh confirmed that the bank will do its part.  "We have invested heavily to deliver Fiji's largest fleet of ATMs and we have BSP POS terminals, Fiji wide.  We now encourage the general public to enjoy the free privilege of using their bank debit or credit cards at any BSP POS merchant Fiji wide or ATMs."

Last May, the Bank waived its Merchant Service Fee for all BSP POS transactions valued at less than $5 while a 1% fee applied to other transactions, capped at $0.40.  The move by the bank was aimed at making the payment facility more affordable for its POS merchants.

"While it is free for consumers, the use of any POS terminal comes at a cost to merchants and we have restructured this fee to make it more affordable.  Processing payment for a $4 cup of coffee using BSP POS terminals is free for a merchant, an $11.00 meal will be $0.11 fee while a $45 payment will remain at the capped fee of $0.40," added Mr Singh.

Cash has been proven to be an effective transmission agent for this global pandemic and given the number of times it changes hands while in circulation, going paperless is an ideal prevention method.

"We realise that we have the largest group of banking customers and therefore we must take the lead in this effort.  Working with our BSP POS merchants and with customer support, we should be able to effectively contribute to the national prevention effort," added Mr Singh.

BSP currently has 2,100 POS terminals across the country.