NPCI slashes MDR for debit cards
As per the latest notification, MDR has been revised to 0.60% for transaction above Rs. 2,000 with a maximum cap of Rs 150 per transaction. Presently, this is capped at 0.90% for transaction above Rs. 2,000 with higher cap of Rs 1,000 per transaction.
MDR boost for merchants using UPI
This move is expected to encourage small grocery stores, chemists and kirana stores across the country to s...
Payment companies seek better MDR deal
Volume of transactions on mobile wallets down to 334 million in June against 393 million in December, ...
Digital payments firms detail zero MDR impact to FinMin
Industry yet to receive any assurance from govt regarding rollback on the decision to cut all charges for digital pay
View: Abolishing MDR charges is not a great idea
To do away with MDR altogether is to cut the purse-strings which fund both existing activities and the impetus for future innovation.
Budget 2019: MDR scrapping to boost digital payments
Rs 5,000 penalty per day for big merchants who do not offer UPI, QR-based options to consumers
No one saw zero MDR for digital payments coming
In the RBI's vision document for 2021, the central bank said it would consider shifting from transaction value-based pricing slabs to a fixed minimum transaction-based pricing.
Digital payment firms wait for new finance secretary to discuss MDR
With Garg on his way out, discussions on the MDR proposal in the budget may need to be restarted.
VISA criticizes government's zero Merchant Discount Rates move
Payments companies and banks that ET has spoken with said that no clarification has been issued by the centre yet on the implementation of the move since the announcement in July.
Shell out MDR charges on Paytm transactions from today
The new levies will be applicable for paying bills or school fees and buying tickets.
BharatPe to disburse loans worth Rs 70 crore to small retailers
The company recently conducted an offline pilot for its loan offering and disbursed over 700 loans worth over Rs 2.5 crores.
RBI formed panel suggests roping in local retailers to act as cash points
The committee has proposed a network of cash disbursement points where a customer can seamlessly convert digital money to physical cash.
Retailers hail government move to subsidise MDR
Govt will reimburse to the banks for two years the MDR on transactions made through debit cards, BHIM or Aadhaar-enabled payment systems for value of up to Rs 2,000.
RBI defends hike in minimum MDR charges
Small shopkeepers complain that the Rs 20 lakh turnover limit is too small, which means many of them they pay charges equivalent to large retailers.
Government to bear MDR charges on digital transactions up to Rs 2,000
The merchant discount rate (MDR) will be borne by the government for two years with effect from January 1, 2018 by reimbursing the same to the banks.
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