Store owners left fuming at banks
ISTANBUL - Hürriyet Daily NewsLocal banks have hiked commissions on point-of-sale devices and lengthened the repayment period to retailers for customer purchases, leading to an outcry among Turkish shop owners, according to daily Sabah.
Banks enacted the measures in anticipation of a fall in 2012 revenues due to the global economic turmoil, the report said.
“The increase in POS device commission charges could have disastrous consequences for many local establishments,” Shopping Center and Retailers Association head Mehmet Nane told Sabah.
“I do not believe that banks need to take such action at this juncture and given the current circumstances,” added Nane.