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MDR FEES
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...- UPI processes 218.6 billion transactions till February in FY26; value at Rs 285 lakh croreJanuary recorded the highest volume with 21.7 billion transactions, followed by December and October with 21.6 billion and 20.7 billion tra...
- There’s no free digital lunch: Why India must rethink UPI’s zero-fee modelSmall merchants are facing unexplained fees on UPI transactions, linked to RuPay credit card MDR. While UPI was promoted as free, these cha...
- 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...
- UPI payments above Rs 3,000 may attract charges: ReportMerchant Discount Rate (MDR) is the fee charged by banks to merchants for providing digital payment services. Currently, RuPay debit cards ...
- Amazon Pay India bats for fair MDR on UPI payments to small merchantsLaunching a report titled ‘How Urban India Pays’, CEO Vikas Bansal said the ecommerce major is focused on simplifying the customer journey ...
- 70% users say will stop using UPI if fees leviedAccording to a survey by Local Circles, 7 out of 10 UPI users would stop using the app if transaction fees were imposed. Fintech companies ...
- Banks, Fintech Firms Seek Return Of MDR On RuPay, UPI TransactionsBanks and digital payments providers have met with officials of the finance and information technology ministries, seeking a ‘flat, slab-ba...
- NPCI pings Prime Minister’s Office, government departments to bring back digital pay MDRMDR was a fee accrued by banks, generally levied from merchants processing the transactions. It was shared equally between the acquiring ba...
- E-payments industry counts the costs after zero MDR joltFrom the growth of UPI payments, it’s clear more users are embracing this instrument. But with a billion transactions a month being recorde...
- Banks approve reduced fees for UPI, RuPayAfter a letter from the Indian Banks’ Association (IBA) on removing entire fees on these transactions, which would have meant significant r...
- Without merchant fees, banks say they can’t reimburse payment companiesAt the centre of this demand is Delhi’s decision to remove the MDR for all digital transactions.
- Payment companies seek better MDR dealVolume of transactions on mobile wallets down to 334 million in June against 393 million in December, according to latest RBI data.
- No one saw zero MDR for digital payments comingIn the RBI's vision document for 2021, the central bank said it would consider shifting from transaction value-based pricing slabs to a fix...
- 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.
- RBI caps charges on debit card transactions at merchant outletsRBI has split the amount of MDR, fee that shop keepers charge customers, into two – for merchants with turn-over of less than Rs 20L & the ...
- Niti Aayog pushes for lower merchant discount ratesNiti Aayog has clearly stated that it does not support any charge on transactions made using the Aadhaar-enabled payment system.
- Lower MDR will kill the digital payments industry: BanksWhile banks are likely to bear the maximum brunt of lowered rates, the impact will also ripple over to the rest of the ecosystem.
- Demonetisation: Chandrababu Naidu-led panel seeks cut in card transaction chargesThe proposal is in line with the govt's push to boost digital transactions as part of efforts to shift to a cashless economy after note ban.
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