Ever since petrol stations began accepting payments electronically, using credit cards or debit cards are the pumps, motorists have enjoyed greater convenience when refuelling. While the use of credit cards has not required a ‘hold’ of RM200 on the related account, those who use a debit ATM card from a bank are subjected to this inconvenience for up to 3 days. That’s certainly an unnecessary burden, especially for a motorcyclist who may buy just RM2 of fuel.
MyDebit and the 22 participating banks are putting consumer interests first by doing away with this practice. Related to this initiative, Payments Network Malaysia Sdn Bhd (PayNet) has announced a collaboration with Petron to accept payments using ATM cards at all Petron station self-service fuel pumps with no RM200 hold.
“With 42 million ATM cards in circulation, virtually every customer carries an ATM card which they can use to pay for their fuel purchases,” said Peter Schiesser, Group CEO of PayNet, the operator of the MyDebit card scheme. “As Malaysia’s national debit card scheme, our priority is the rakyat. MyDebit is the only card scheme in Malaysia that does not hold RM200 at petrol pumps.”
“When a petrol chain accepts MyDebit payments, consumers can select the amount of fuel that they wish to purchase and only that amount is blocked during fuelling. If consumers refuel less than the amount selected at the start, all excess amounts are credited back to their bank accounts immediately after fuelling is done,” explained Mr. Schiesser.
The announcement was made in conjunction with the launch of ‘FUEL-YoooH MyDebit Je with your ATM Card!’ recently at a Petron station in Bandar Baru Kulim, Kedah. The move, which supports the government’s aim to develop a cashless society, enables Petron customers easier, faster, more seamless and convenient cashless payment using their ATM cards at the fuel pumps.
To commemorate the roll-out of MyDebit ATM Card at Petron stations, PayNet and Petron have a campaign that rewards motorists who use their ATM cards for fuel purchases. Until March 13, 2020, any fuel purchases at Petron pumps using ATM cards issued by banks in Malaysia with a minimum spend of RM5 will provide a chance to win prizes that include 2 Grand Prizes of Proton X70 SUV. Besides a total of 84 prizes, there are also four RM500 Petron Gift Cards to be won weekly.