Accepting credit cards payments by Muslim mechants : accepting credit cards by merchants and the percentage paid to credit cards issuers

Fatawa Question

First, Assalamu Alaykum Warahmatulahi Wabarakatuhu ? Secondly, I have the following question I manage small taxi company, owned by an association of Muslim Brothers ; my taxi drivers are obligated to accept credit cards by law. I have to provide, cashing service to all drivers, there are charges and fees to be paid to the credit providers (banks), there are charges, and percentage such as 3 % or 3.5 % etc that allowed by all companies for the bank. If I charge 5 % or 6 % to my drivers to cover my cost of the machine and labor and total expense will that be consider interest ? Is it “Haram” ? Please provide an answer in English. Jasa kumu Lah khayr. Notes : what we are cashing is paper not money in to money, and it is similar to the service you paid to the Hawala exchange and also payroll checks, because these two services you have to pay some percentage of service charge in order to get cash.

Fatwa

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Publication Date

2002-09-26

Main Subjects

Economics & Business Administration
Financial and Accounting Sciences
Religion
Islamic Studies

Topics

• Islamic jurisprudence
• Islamic economics
• Contracts
• Entrepreneurs
• Credit cards
• Payments
• Taxicabs

No. of Pages

1

Data Type

Fatawa

Language

English

Record ID

BIM-723880

• APA
• MLA
• AMA