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merchant discount rate News
merchant discount rate
Indian Railways says no MDR charges for booking train ticket via debit card
Fri, Mar 02, 2018
MDR is referred as a charge to a merchant by a bank for accepting payment from their customers in credit and debit cards every time a card is used for payments in their stores.
How the government's MDR reimbursement decision impacts you
Sun, Dec 17, 2017
Read how the government's MDR reimbursement decision will impact customers and railway commuters.
Govt to bear MDR charges on small transactions for next 2 years
Fri, Dec 15, 2017
The RBI rationalised the framework of Merchant Discount Rate (MDR) into three category for debit cards transaction.
Retailers say higher MDR nearly doubles merchants' costs
Wed, Dec 13, 2017
Retailers are lamenting the RBI's upward revision of merchant discount rates (MDR), the rate merchants pay banks per card transaction, claiming it has nearly doubled their costs.
RBI rationalises framework for Merchant Discount Rate; details you need to know
Wed, Dec 06, 2017
Performance debit card transaction at point of sales (POS) terminal has seen major boost after the announcement of demonetisation drive.
Govt's digital payments push making banks suffer a loss of Rs 3,800 crore: SBI
Thu, Sep 28, 2017
The number of point of sale (PoS) terminals post demonetisation increased from 13.8 lakh in March, 2016 to 28.4 lakh in July, 2017.
RBI to reimburse banks MDR charges effective January 1
Thu, Feb 16, 2017
The Reserve Bank will start reimbursing MDR charges to banks for payments made since January 1 through debit cards by citizens, in line with the government's move to further digital solutions.
Debit card charges may decline further: Jaitley
Wed, Feb 08, 2017
"The RBI is deciding on this... it is work in progress. I am sure as volumes (of digital transactions) are increasing, the charges will come down," the Finance Minister Arun Jaitley told the Rajya Sabha during the Question Hour.
HDFC Bank wants reasonable MDR charges on credit & debit card transactions
Tue, Jan 24, 2017
HDFC Bank on Tuesday pitched for reasonable merchant discount rate charges on credit and debit card transactions.
Budget 2017: Payment gateway cos expect govt to offer incentives, tax breaks & exemptions to boost digital transactions
Mon, Jan 23, 2017
Find out what are Budget 2017 expectations of payment gateway companies like Telr, Payoneer, Atom Technologies, TechProcess Payment Services, RazorPay, Chillr, Happay and PayU India.
Digital Push: SBI says no MDR charges for small merchants with turnover of Rs 20 lakh
Mon, Jan 09, 2017
SBI said, "With a view to help the Small Merchants overcome the apprehensions towards joining this journey by installation of PoS terminals in their shops, State Bank of India has decided to waive completely, the MDR charges on debit card transactions for all small merchants having annual turnover of up to Rs 20 lakh, for a period of one year i.e. up to 31-12-2017."
POS machines likely to outshine ATMs as India hurries towards less-cash
Tue, Dec 20, 2016
M B Mahesh, Nischint Chawathe and Abhijeet Sakhare of Kotak Institutional Equities said, “With 0.2 million ATMs and 1.4 million POS machines, Indian banks are getting an unexpected benefit coming through demonetisation as the bulk of 0.6 billion debit cards and 0.02 million credit card holders have started to look seriously at newer channels of payment.”
RBI lowers MDR charges for up to Rs 2,000 payments via debit card
Sat, Dec 17, 2016
To encourage digital transactions, the Reserve Bank of India (RBI) on Friday decided to slash MDR charges on payments made through debit cards and do away with levies on small transactions through mobile phones and Internet from January 1 to March 31.
Demonetisation: SBI waives merchant discount rate on Master, Visa debit cards
Fri, Nov 25, 2016
State Bank of India (SBI) on Thursday said it has waived merchant discount rate (MDR) on Master and Visa debit cards, having already done so on RuPay debit cards last week to promote digital payments.