[aargee]

I'm slightly going , sorry about that, but I don't intend to continue & I'll stop with the following question to think about.

Originally Posted by Born 2 Be Wild

When a card is used for any amount whatsoever at a pump the Pump gets the entire amount credited without any deduction whatsoever so if the card is swiped for 100rs The bank will credit 100rs.

if that's the case, then when, where & how does the CC companies & bank make money?

Originally Posted by Born 2 Be Wild

Secondly The card transaction amount is credited to the pump within 24 hours of the pump closing the card batch on the swipe machine, so it does not take weeks as you have mentioned.

If you got any friends working in any merchant establishment talk to them to find out how many days it takes for them to realize the money

Originally Posted by Born 2 Be Wild

Thats Not correct the sign on the slip has nothing to do with the merchant getting paid its refrerd to when the customer intimates Fraud usage and thats when the signature on the slips are referd to.

Exercise - next time when you pay using CC, just try walking out saying you've swiped in & cannot sign the merchant copy; you'll understand what I'm trying to convey

[Born 2 Be Wild]

Originally Posted by aargee

I'm slightly going , sorry about that, but I don't intend to continue & I'll stop with the following question to think about.

if that's the case, then when, where & how does the CC companies & bank make money?


If you got any friends working in any merchant establishment talk to them to find out how many days it takes for them to realize the money


Exercise - next time when you pay using CC, just try walking out saying you've swiped in & cannot sign the merchant copy; you'll understand what I'm trying to convey

Sir i would not know how The banks and credit card companies make money, but now that you have asked i will certainly ask the Bank rep next time he drops by.

Secondly I dont need to ask any friends working in any Merchant establishment, I am Running a HPCL Pump so am pretty sure of what i have mentioned

Like i Mentioned earliar and what i would like to reiterate is that The signature on the slip comes into Play only when a customer X calls the bank and says that that transaction was not done by him and thats when the Bank calls for the slip to have the Signature VERIFIED. If the customer does not dipute a particular transaction the signature doesn't come in the picture anywhere! We dont have to submit the slips to get paid.

[MX6]

Originally Posted by Born 2 Be Wild

There is a plan to have this system in place in select Metros by 2015 but honestly i dont think this concept will se light of day in near future, in a country where every ATM has a guard because the banks cant trust people with stuff that cant blow up, how can OMC's trust people with stuff that goes Kaboom!

Nice to hear. I don't mind a security with a gun near the stuff that goes Kaboom! So that we we'll still give work to people. Like instead of filling fuel, they can all stand and ensure that things don't go Kaboom!
The moment I find that some one cheated me with short-filling, it's my mood that goes Kaboom!

[Ranjan Sharma]

Originally Posted by Born 2 Be Wild

I am Running a HPCL Pump so am pretty sure of what i have mentioned

Right, Now you could tell us the short fuelling tricks on petrol bunks

[MX6]

Originally Posted by Born 2 Be Wild

Like i Mentioned earliar and what i would like to reiterate is that The signature on the slip comes into Play only when a customer X calls the bank and says that that transaction was not done by him and thats when the Bank calls for the slip to have the Signature VERIFIED. If the customer does not dipute a particular transaction the signature doesn't come in the picture anywhere! We dont have to submit the slips to get paid.

True. I agree. The moment they swipe the card and enter the amount and the payment declared successful, I get an sms stating that a transaction for so much account has been made!
The sms doesn't wait for me to sign the credit slip!

[SPIKE ARRESTOR]

@MX6 well said,
@Born 2 Be Wild could you please educate us how to avoid being cheated at fuel bunks, we don't mind you mentioning the modus operandi for the same.

Spike

[Born 2 Be Wild]

Originally Posted by MX6

Nice to hear. I don't mind a security with a gun near the stuff that goes Kaboom! So that we we'll still give work to people. Like instead of filling fuel, they can all stand and ensure that things don't go Kaboom!
The moment I find that some one cheated me with short-filling, it's my mood that goes Kaboom!

very true indeed

Originally Posted by Ranjan Sharma

Right, Now you could tell us the short fuelling tricks on petrol bunks

Most of the tricks by sales boys are pulled off by the diversion tactics, Hence a vigilant customer seldom gets cheated.

The not so honest dealers swindle customers by running the machine short. But due to automation now theese numbers have dwindled.

Originally Posted by MX6

True. I agree. The moment they swipe the card and enter the amount and the payment declared successful, I get an sms stating that a transaction for so much account has been made!
The sms doesn't wait for me to sign the credit slip!

Exactly what i have been trying to say!

[Ranjan Sharma]

Originally Posted by Born 2 Be Wild

When a card is used for any amount whatsoever at a pump the Pump gets the entire amount credited without any deduction whatsoever so if the card is swiped for 100rs The bank will credit 100rs.

The card Issuer [the bank that issued the card and/or the issuer network ie: Visa, MS, American Express, JCB etc] makes a percentage of each item you purchase from the merchant who accepts your credit card. These rates range from 1% to 4% of each purchase.

[Born 2 Be Wild]

Originally Posted by Ranjan Sharma

The card Issuer [the bank that issued the card and/or the issuer network ie: Visa, MS, American Express, JCB etc] makes a percentage of each item you purchase from the merchant who accepts your credit card. These rates range from 1% to 4% of each purchase.

To add to that list, Even the dealer gets a percentage over an above the Transaction amount . Thats why we prefer cards

[sbraj]

Originally Posted by Born 2 Be Wild

Like i Mentioned earliar and what i would like to reiterate is that The signature on the slip comes into Play only when a customer X calls the bank and says that that transaction was not done by him and thats when the Bank calls for the slip to have the Signature VERIFIED. If the customer does not dipute a particular transaction the signature doesn't come in the picture anywhere! We dont have to submit the slips to get paid.

Originally Posted by aargee

Exercise - next time when you pay using CC, just try walking out saying you've swiped in & cannot sign the merchant copy; you'll understand what I'm trying to convey

Originally Posted by Born 2 Be Wild

Thats Not correct the sign on the slip has nothing to do with the merchant getting paid its refrerd to when the customer intimates Fraud usage and thats when the signature on the slips are referd to.

Born 2 Be Wild, I don't think you are getting the point. Will the merchant be contend with swiping the card alone? What if I refuse to sign, and then later claim fraud? I don't think any merchant will let the customer go without signing.

I think that is the point that aargee is making. When you pay using credit card and after swiping you realise some issue, you could refuse to sign until that issue is corrected. One more step in your checks and balances while fueling at petrol stations.

[Born 2 Be Wild]

Originally Posted by sbraj

Born 2 Be Wild, I don't think you are getting the point. Will the merchant be contend with swiping the card alone? What if I refuse to sign, and then later claim fraud? I don't think any merchant will let the customer go without signing.

I think that is the point that aargee is making. When you pay using credit card and after swiping you realise some issue, you could refuse to sign until that issue is corrected. One more step in your checks and balances while fueling at petrol stations.

I understand what he is trying to say and nobody in there Sane mind would sign on something incorrect, And there is a procedure to Void any transaction on the swipe machine, If a customer feels that the Amt on the slip is wrong he is absolutely right in not signing it.

What i was merely trying to expalin was, lets just forget the slip for a moment as soon as the card is swiped the pump gets the money the next day, If there was something fishy with the transaction and the customer complains, the bank can reverse the amount if customer is right in his claim, all this after verifying the slip.

This slip issue has dragged on for a bit now and i am going OT hence i rest my case Gentlemen, This explanation is subject to wider interpretations .

[mmmjgm]

Originally Posted by aargee

Exercise - next time when you pay using CC, just try walking out saying you've swiped in & cannot sign the merchant copy; you'll understand what I'm trying to convey

Don't Do this at a Pump, you will be reported to the Cops, an FIR Filed and arrested if the pump owner is moderately influential.

Don't leave without signing a correct charge slip, simple.

Moderately influential - all pumps have cop contacts due to the nature of their business, some may be well connected, some moderately connected, i.e. the cops WILL take a complaint. If the pump manager does not complain, atleast the pump attendants will pay for the fuel from their own pocket, and subsequently even if they (pump employees) rough you up there's little you can do, until you are a politician or a bureaucrat or a cop, which in any case they wont ask you for funds.

Once this is done (Complaint filed), its near impossible to come out of a non settlement situation with the complainant, as its theft.

This is inside info, please if you swipe your card at the pump, sign and obey the situation if there's no trouble at all.

IF there's excess debit 1) Ask them to reverse the transaction and reswipe with the correct amount. or 2) Call the bank and inform them of the extra debit. (they will take it up later with the pump)

[ampere]

Originally Posted by Ranjan Sharma

The card Issuer [the bank that issued the card and/or the issuer network ie: Visa, MS, American Express, JCB etc] makes a percentage of each item you purchase from the merchant who accepts your credit card. These rates range from 1% to 4% of each purchase.

On top of it if you paid through CC and not a debit, and for some reason, you dont pay full amount of CC bill, a huge interest is charged on the full amount. That is how they make money in Phase-II apart from the standard 2% charge!

Also its good to swipe though a debit card (petro card) as against a standard CC.

[aargee]

Originally Posted by sbraj

I think that is the point that aargee is making. When you pay using credit card and after swiping you realise some issue, you could refuse to sign until that issue is corrected. One more step in your checks and balances while fueling at petrol stations.

Yes this is the one I was trying to make; Glad you got it.

Personally I feel Shell is the only fuel pump in this country (atleast now) who provides good service for a little higher price; All the other pumps in this country, may be company owned outlet an exception, are always waiting to cheat; IMO, the malpractice in any business happens everywhere, but why does this one get on our nerves? Imagine something like this, you go to a textile showroom, see a saree priced 660 MRP, you like it & happy to pay 660, now imagine the sales guy cuts out a 12 inches & sells it to you for 660.

Originally Posted by mmmjgm

Don't Do this at a Pump, you will be reported to the Cops, an FIR Filed and arrested if the pump owner is moderately influential.

Very True; not only with fuel stations, but also with any establishment I would say; if they're decent they file an FIR if not they'll handle on their own; IMO, its equivalent to taking buying something & not paying. I think signing is universal standards as I'd to sign on CC payments even in US.

[Gansan]

Signing of the CC slip is not an absolute must. As soon as the card is swiped and the slip is generated, your account is debited and the merchant will get his money.

That becomes an issue only when you dispute a charge and the slip has to be retrieved by the bank for giving you a credit.

However if you refuse to sign the slip the merchant can retain the card and report you to the police on suspicion that you are using a stolen card.