Bc, Hyundai Motor Agree on Card Transaction Fee

BC Card said Monday it had reached an agreement with Hyundai Motor to charge it a transaction fee of 1.89 percent, as proposed by the automaker.

Customers seeking to buy cars from the automaker will be able to use cards issued by BC for monthly installment payments.

The last-minute agreement on an increase of 0.05 percentage points has ended a months-long conflict between the card firm and the automaker sparked by the government's policy to impose restrictions on card transaction fees.

The Financial Services Commission revised the card fee system to have "larger, "lucrative" businesses pay more following an outcry from the self-employed and small- and medium-sized enterprises (SMEs) who claimed...