Merchant Discount Rate

Banks association and payments forums urge the Centre to restore the Merchant Discount Rates. Starting January 1, 2020, Finance Minister Nirmala Sitharaman announced for all businesses with an annual turnover of Rs 50 crore or more to…

Govt. Aims To Make UPI Transactions Free For All: Can This Impact Google Pay, Paytm? Remember just some time back we informed you about the government’s decision to not charge any MDR charges on transactions done via UPI and RuPay…

Govt Can Remove MDR From All Debit Cards: No Extra Charge For Using Any Debit Card? As per the reports, the government is planning to waive merchant discount rate (MDR) on all debit cards, to push digital payments. How Did This…

Zero MDR For RuPay, UPI Will Destroy Digital Payments Industry, Kill Jobs, Innovation: Private Players Just yesterday we informed you about the government’s decision to not charge any MDR charges on transactions done via UPI and RuPay…

No Extra Charge For Using RuPay, UPI; These Companies Mandated To Offer RuPay, UPI Mode Of Payment There’s important news concerning the finance and economic sector of the country. As the year comes to an end, the Finance Minister…

Using RuPay Becomes 30% Cheaper As NPCI Slashes MDR The National Payments Corporation of India has reduced the merchant discount rate on the transactions that will happen through RuPay debit cards. Previously, the Government of…

IRCTC has decided to waive off MDR charges for all debit card transactions on their platform, for booking eTickets. Transactions till Rs 1 lakh would be covered, which translates to more than 99% of all tickets booked. Cheers, because rail…

Govt. of India’s big push for a cashless economy has started with a bang in 2018! In a decision which can be treated as a new year gift for digital evangelists, Govt. has announced the rollout of zero-fee charge for all debit card…

To encourage more cashless transactions, Govt. of India has removed MDR for all transactions upto Rs 2000, made via debit cards & UPI for the next 2 years.