Some Businesses Continue To Insist On Minimum Spending For Credit Card Payment

Several businesses in the British Virgin Islands (BVI) are continuing to flout regulations that prohibit minimum spending requirements for credit card payments.

On January 2, Jahphixtelevision.com visited a gas station and a food establishment in Tortola, both of which were still enforcing a minimum purchase amount for credit card transactions. This comes despite a clear warning from the British Virgin Islands Bank Association (BVIBA) in a December 18 advisory, which stated that such practices violate merchant agreements with financial institutions.

The BVIBA highlighted that imposing minimum spending thresholds or charging additional fees for credit card payments contravenes not only local merchant contracts but also the policies of major payment networks such as Visa and Mastercard.

“We urge all merchants to immediately cease these practices to ensure full compliance with established regulations,” read the BVIBA’s statement issued last month.

This ongoing issue follows rising concerns over the transparency and fairness of payment systems, with both cardholders and industry stakeholders calling for more stringent enforcement of existing regulations.