| 28 May 2024, Tuesday |

Farewell to the cashless society

The management in one of the supermarkets did not allow us to enter and take videos for the staff who is refusing to receive payments through bank cards. The official in charge of the administration fears the people’s resentfulness towards the merchants.

Stores have decided not to accept payment cards anymore, under the pretext that suppliers are asking supermarkets and stores for cash payments.

Ziad used to use his debit cards to purchase foodstuffs and goods with his money trapped in banks.

The delay has been witnessed by merchants in receiving their money from banks is the main reason that pushed the Syndicate of Supermarket Owners to take this procedure.

Banks are also forcing merchants to pay a commission of more than 20% on payment cards.

The Head of the Syndicate did not respond for a comment.

Sources following up on this file confirmed that the “supermarket” will stop accepting payment cards completely.

The financial and economic meltdown has brought Lebanon back to the cash society. Returning to the cash economy does not mean freezing the economy, but rather setting it years back.

  • Sawt Beirut International