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MDR CHARGES
One soundbox soon for all payment apps as NPCI readies platformNPCI is developing a unified, interoperable soundbox system for UPI transactions, aiming to eliminate the need for merchants to use multipl...- Paytm shares climb 5% after Q4 results. Do Jefferies, Goldman Sachs and Bernstein see further upside?Paytm's parent company, One 97 Communications, reported a profit of Rs 184 crore for the fourth quarter. This led to a significant rally in...
- UPI, RuPay subsidy shrinks to Rs 8,000 crore over four yearsThe digital payments industry has received about Rs 8,000 crore in subsidy payments over four years for UPI and RuPay debit card payments, ...
- Paytm shares fall 10%: What is MDR and why fintech players want government to introduce it?Paytm shares declined following the Finance Ministry's denial of Merchant Discount Rate (MDR) on UPI transactions. This sparked investor co...
- Digital payment sector wants MDR to be backThe Payments Council of India (PCI), the industry body for the digital payments ecosystem in the country, has written to the government urg...
- Customer to bear MDR charges for Postal life insurance online premium payment from Jan 17, 2022MDR is a fee that a merchant is charged by their issuing bank for accepting payments from their customers via credit and debit cards.
- Shell out MDR charges on Paytm transactions from todayThe new levies will be applicable for paying bills or school fees and buying tickets.
- What is Merchant Discount Rate?MDR is a fee charged from a merchant by a bank for accepting payments from customers through credit and debit cards in their establishments.
- Government to bear MDR charges on digital transactions up to Rs 2,000The merchant discount rate (MDR) will be borne by the government for two years with effect from January 1, 2018 by reimbursing the same to ...
- RBI defends hike in minimum MDR chargesSmall shopkeepers complain that the Rs 20 lakh turnover limit is too small, which means many of them they pay charges equivalent to large r...
- RBI rejigs MDR: Here's how much you will save on debit card transactions from 1.1.2018According to RBI, the revised MDR aims at achieving the twin objectives of increased usage of debit cards and ensuring sustainability of th...
- RBI to soon issue final guidelines on MDR chargesPending the final guidelines the existing norms for MDR (merchant discount rate) charges will continue beyond March 31.
- Government may reduce charges on card paymentsFinance Minister Arun Jaitley told Parliament earlier this month that the RBI is working to reduce the MDR for debit card transactions abov...
- Government mulls reducing MDR charges on card paymentsThe existing MDR is capped at 0.75 per cent for transactions up to Rs 2,000 and 1 per cent for over Rs 2,000. However, there is no RBI cap ...
- RBI seeks to cut card fees for small merchantsThe existing MDR is capped at 0.75% for transactions up to Rs 2,000 and 1% for over Rs 2,000. However, there is no RBI cap on MDR on credit...
- Govt to foot debit card MDR charges on tax, dues payments to GoIThe agency banks who receive payments made to government of India will submit claims of applicable MDR charges to RBI periodically.
- RBI may consider extending deadline for reduced Merchant Discount Rate: Dharmendra PradhanThe RBI had decided to slash MDR charges on payments made through debit cards and do away with levies on small transactions.
- Customers will not bear charges on card transactions at petrol pumps: Dharmendra PradhanPradhan said proper mechanism will be put in place by Jaunary 16th. Banks and OMCs will bear the cost.
- Government to bear MDR on tax payments up to Rs 1 lakh via debit cardThe Reserve Bank of India will reimburse banks' claims of Merchant Discount Rate (MDR) charges on government receipt transactions through c...
- Government to absorb MDR charges on payment of taxes via cardsFinance Ministry to make budgetary provision for reimbursement of MDR charges on debit and credit cards payments.
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