The Senate Standing Committee on Finance, chaired by Salim Mandviwala, emphasized the enforcement of regulations for credit card payments.

The chairman of the FBR assured stringent measures to ensure that retailers accept payments through credit cards, stating that it will now be compulsory for businesses to facilitate such transactions.

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“Failing to accept payment via credit card will lead to business closure,” declared the FBR chairman, highlighting the consequences for non-compliance.

Senator Sherry Rehman raised concerns over retailers using technical issues as excuses for not accepting credit cards, urging prompt action to resolve such obstacles.

“We cannot tolerate delays in implementing these measures,” Senator Rehman emphasized. The committee stressed that only three complaints per day or five per week from consumers would trigger regulatory action against non-compliant businesses.

Furthermore, businesses failing to issue at least three receipts per day or five receipts per week via Point of Sale (POS) systems will face penalties of up to Rs500,000.

The FBR chairman mentioned implementing a new monitoring dashboard to track the operational status of POS machines across shops, enhancing oversight and accountability.