Mumbai: To encourage digital transactions, the Reserve Bank today 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. The Merchant Discount Rate (MDR) for debit card payments, including for payments made to government, will be capped at 0.25 per ... Read More »
Tag Archives: Merchant
Paytm Waives Off Merchant Fees on Offline Transactions
Paytm announced Wednesday that it is waiving off per-transaction merchant fees for wallet transactions made offline, to drive adoption of its wallet. There are only 1.3 million PoS (point of sale) terminals in India, which are typically given to more established outlets that meet the bank’s stringent KYC norms, said Nitin Misra, head of payment products at Paytm. Merchants often ... Read More »