Consumers Give Interest Free Loans to Gas Stations

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New JGRA/Manufacturers Credit deal cutting out credit cards at gas stations
Patrick Foster, Caribbean Business Report writer
Friday, September 15, 2006

Earl Jarrett (left) general manager of Jamaica National Building Society (JNBS), and Trevor Heaven, president of the Jamaica Gasoline Retailers Association (JGRA), are all smiles as they review the signed agreement establishing the alliance between the JGRA and Manufacturers Credit and Information Services Limited. (MCIS).

Manufacturers Credit and Information Services Limited (MCIS), a member of the Jamaica National Group, and the Jamaica Gasoline Retailers Association (JGRA) have negotiated a deal which they say will bring significant savings for customers using JGRA service stations islandwide.

Under the deal, a JGRA branded pre-paid card will be used for the purpose of purchasing fuel at JGRA service stations and eventually replace traditional credit cards.

"Eventually, over a period of about a year we hope to migrate to this system exclusively," Trevor Heaven, president of the JGRA, told Caribbean Business Report. "We will still accept the credit cards, as the new card will be for fuel purchases only."

Heaven said that at the end of the transition period the JGRA members would not accept credit cards for the purchasing of petrol... More

[RichD]

Re: Consumers Give Interest Free Loans to Gas Stations

wonda if dem still a go tek cash

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Re: Consumers Give Interest Free Loans to Gas Stations

What happens in an emergency and you don't have either the pre-paid card or cash? Maybe gas stations will sell the cards. But still, what if it lost or tief? I wonda if the card can cancel.

At the end of the day, banks and credit companies are the biggest tief of the 21st century and is always the little man who gets stuck with the bill.