A local businessman has opted to no longer facilitate debit/credit card transactions in his business for cost reasons. Jay Koment, the owner of New Providence Art and Antiques, says for 12 years he felt it was a service he had to offer to better serve his customers, but after a while, it became too much to maintain for his growing business. He’s not alone. Scores of Bahamian businesses, particularly smaller operations, do not use debit/credit card machines.
To offset costs associated with the service, some merchants have opted to pass fees on to consumers – a practice which Bahamas Chamber of Commerce and Employers Confederation (BCCEC) CEO Edison Sumner warns is against the law.