Credit Card refusal and Management thoughts

The Star Online > Nation Wednesday June 25, 2008
Drivers fume
GEORGE TOWN: Motorists throughout the country were left fuming and confused on Tuesday, all because of the push by petrol station owners to ensure that their profit margins are maintained.
> 400 petrol stations in the northern region decided to stop accepting payments by credit card by today,
> Motorists are angry that they have to pay by cash, especially when they are now paying more for their fuel,
> Chaos broke out in several towns in Sabah and Sarawak as panicked vehicle owners rushed to petrol stations to fill up after receiving irresponsible SMSes that petrol stations were closing for three days,
> Vehicle owners in the peninsula were also worried after receiving similar untrue SMSes of petrol stations closing.
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I just wanted to give my views on this issue from a 'commercial' management perspective (that means leaving out political/government issues). As far as I am concerned, two parties are at fault here:

1. Petrol Station franchisees (i.e. Dealers) - these people have made more than enough in the past. Now they are getting greedy because if they allow credit transactions, their profits will be less and they will have to eat at Mamak instead of 5-star restaurants. This is total rubbish. My respone to the Dealers? If you cannot manage, SURRENDER your franchise and let someone more capable run the station without removing credit card payment facilities. Otherwise, you are both Greedy and Stupid.

2. Visa/Mastercard - these are the ones causing the financing rates to be high. however, this will need the Banking industry intervention, otherwise the Government will have to step in.


-TURD-