Mswipe has a Zero MDR plan for small businesses

MUMBAI: Point-of-sale terminal solutions provider Mswipe is offering an acceptance solution that waives off Merchant Discount Rates (MDR) for small businesses, as adoption of digital payment modes has gathered pace due to the Covid-19 pandemic.

The startup’s Bank Box product will allow merchants to process all debit and credit card transactions, including those issued by Visa and Mastercard, without incurring any rental or MDR.

The “industry-first” acceptance solution comes at a time when merchants across the country are looking at the cheapest ones to make digital payment services available at their stores, Manish Patel, CEO of Mswipe, told ET in an exclusive interview.


Last year, the government waived off the fee on transactions through the National Payments Corporation of India’s popular UPI and RuPay debit card modes. However, these charges still apply on transactions made through Mastercard and Visa cards.