Different Cash and Credit Card prices not allowed
October 20, 2010
Be informed: it is unlawful to charge or be charged two prices — a Cash Price and a Credit Card Price – for the same product.
Department of Trade and Industry (DTI) Undersecretary Zenaida Maglaya, in an interview with ABS-CBN’s Mornings@ANC, issued a reminder to establishments that the law forbids the imposition of additional charges on items purchased through credit cards.
Based on Article 81 of Republic Act 7394 (“Consumer Act of the Philippines”), goods and services must not be sold at a higher price that what is stated and without discrimination to all buyers.
According to Maglaya, several firms deceive consumers by supposedly offering “discounts” when paying cash. Some gadgets and appliance stores, she says, charge customers higher price if the purchase is via credit card and a “discounted” price if via cash.
Customers who were tricked into paying the credit card surcharge are encouraged to report the incident to the DTI hotline number 7513330. Violators may be fined up to P300,000 and slapped with a possible revocation of their business permit and license.
Click for more interesting, useful and related posts:
- dti republic act 7394 article 81
- philippine practices on trade and cash discounts
- credit card payment as cash payment law philippines
- dti ruling on credit cards
- philippine law on price on cash or card
- philippine practices on trade and cash discounts payroll and online banking