MDR

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.

RBI has taken steps to cap the MDR at Rs 200 for small businesses and Rs 1000 for bigger businesses for accepting payment via debit card.

In a major development which can set a standard for cashless transactions in India, oil marketing companies have agreed to bear and absorb MDR or Merchant Discount Rate fees applicable on cashless transactions at petrol pumps.…

There has been a growing demand from business community and consumers to bring down the additional expenses related to cashless transactions. Right now, there is an additional surcharge, called MDR or Merchant Discount Rate of 0.75% if…