Tag Archives: Merchant

RBI Lowers Merchant Discount Rate For Small Debit Card Transactions

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 »

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 »