MEXICO CITY -- Mexico's restaurant industry has backed down from a threatened boycott of bank credit cards.
The National Chamber of the Restaurant Industry, known by its Spanish acronym Canirac, called off the protest against credit card fees after the country's largest bank said it would sever all ties with participating restaurants.
"We are seeking appropriate channels for a dialogue that would allow the industry a bit of breathing room in terms of payment of commissions for use of the cards," a Canirac official said.
After Canirac announced last week that its members would refuse to accept bank cards, Banco National de Mexico - Banamex - said it would not have any dealings with those establishments.
Canirac sent a letter to the Mexican Banking Association proposing a compromise.