Lebanon Businessnews News

Fresh dollar cards
are finally accepted
Decision applies to payments

in supermarkets and restaurants

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Payment cards denominated in fresh dollars will be accepted for settlement of point of sale (POS) transactions and the paid amount will be considered as cash dollars, according to the digital payment company Areeba.

Fresh dollar cards, which were only accepted for cash withdrawals from automated teller machines (ATMs), can now be used for the settlement of transactions in supermarkets and restaurants.

Areeba, which has attributed the decision to the Central Bank, said that this applies to all cards denominated in US dollars and issued by local banks. It said that lollar settlements will be completely stopped.

Payments in lira on POS terminals will remain unchanged.

Areeba said that that two commission rates will be applied, a commission rate on local cards in lira and dollars and a rate on international cards.

The company asked merchants to provide details about their fresh bank account by mid-July. It said: “For merchants already having fresh settlements from international activity, we will replace your lollar account with your fresh USD account details to proceed with the settlement.”
Date Posted: Jul 07, 2022
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