Merchant Discount Rate News
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No Plan To Levy Merchant Discount Rate On UPI Transactions: Finance Ministry
The Finance Ministry on Wednesday said that "speculation and claims that the MDR (merchant discount rate) will be charged on UPI transactions are completely false, baseless, and misleading".
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Exclusive: Government Weighs Charges On UPI Payments Over Rs 3,000
This comes as banks and payment service providers have raised concerns about the rising cost of handling high-value digital transactions.
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Cabinet Approves Incentive Scheme To Push Digital Payments
Government will reimburse transaction charges levied on digital payments made by persons to the merchant as part of the merchant discount rate
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PhonePe, Google Pay May Be Hit by NPCI's New Zero UPI Interchange, Payment Service Provider Fees Rule
Through a circular on Friday, the National Payments Corporation of India (NPCI) said that it has agreed to revise the UPI interchange and payment service provider fees to "zero" for all domestic UPI merchant (P2M) transactions with retrospective effect from January 1, 2020.
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RBI Makes It Cheaper For Small Merchants To Accept Debit Cards
Merchant discount rate is the fee charged to a merchant by a bank for providing debit card payment services.
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RBI To Soon Issue Final Guidelines On Merchant Discount Rate Charges
Pending the final guidelines the existing norms for MDR (merchant discount rate) charges will continue beyond March 31, RBI Governor Urjit Patel said while announcing first bi-monthly monetary policy for 2017-18.
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RBI To Reimburse Banks MDR Charges Effective January 1
In December 2016, the government had decided to absorb the merchant discount rate (MDR) charges in respect of debit card transactions for making payments to it.
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Banks Waive Merchant Discount Rate For All Debit Cards Till December 31
Leading banks, including ICICI Bank and HDFC Bank, have waived merchant discount rate (MDR) on debit cards till December 31 to facilitate payments by customers following government's move to do away with the charge levied on merchants.
-
No Plan To Levy Merchant Discount Rate On UPI Transactions: Finance Ministry
The Finance Ministry on Wednesday said that "speculation and claims that the MDR (merchant discount rate) will be charged on UPI transactions are completely false, baseless, and misleading".
-
Exclusive: Government Weighs Charges On UPI Payments Over Rs 3,000
This comes as banks and payment service providers have raised concerns about the rising cost of handling high-value digital transactions.
-
Cabinet Approves Incentive Scheme To Push Digital Payments
Government will reimburse transaction charges levied on digital payments made by persons to the merchant as part of the merchant discount rate
-
PhonePe, Google Pay May Be Hit by NPCI's New Zero UPI Interchange, Payment Service Provider Fees Rule
Through a circular on Friday, the National Payments Corporation of India (NPCI) said that it has agreed to revise the UPI interchange and payment service provider fees to "zero" for all domestic UPI merchant (P2M) transactions with retrospective effect from January 1, 2020.
-
RBI Makes It Cheaper For Small Merchants To Accept Debit Cards
Merchant discount rate is the fee charged to a merchant by a bank for providing debit card payment services.
-
RBI To Soon Issue Final Guidelines On Merchant Discount Rate Charges
Pending the final guidelines the existing norms for MDR (merchant discount rate) charges will continue beyond March 31, RBI Governor Urjit Patel said while announcing first bi-monthly monetary policy for 2017-18.
-
RBI To Reimburse Banks MDR Charges Effective January 1
In December 2016, the government had decided to absorb the merchant discount rate (MDR) charges in respect of debit card transactions for making payments to it.
-
Banks Waive Merchant Discount Rate For All Debit Cards Till December 31
Leading banks, including ICICI Bank and HDFC Bank, have waived merchant discount rate (MDR) on debit cards till December 31 to facilitate payments by customers following government's move to do away with the charge levied on merchants.
