PriceSmart customers whose credit cards were charged without their knowledge last Friday will be fully reimbursed.
Hundreds of customers noticed unauthorised transactions on their credit card accounts, dated October 13, that emanated from PriceSmart. The charges were later reversed but customers complained of being refunded less than what was deducted.
In a statement on its website on Monday, PriceSmart also promised to work with commercial banks to clarify issues on their payment processing platforms.
The company also emailed its customers on Monday, saying it was informed about some transactions that affected its credit card accounts.
“This was due to a technical issue in processing, which has affected multiple banks and merchants outside PriceSmart’s control in Trinidad and Tobago.”
PriceSmart said, “We understand that in an effort to correct the transactions, cardholders’ accounts may have a different amount than was initially charged due to foreign exchange rate fluctuation.”
The company said the banks are working to rectify the transactions, and it “continues to collaborate with the banks to ensure our member’s concerns are addressed.”
PriceSmart promised to ensure that “any member who has a discrepancy on their account resulting in an overcharge will be reimbursed for the difference in charges.”
The company advised its members to visit its website, www.PriceSmart.com, for updates.