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News
MDR
MDR News
debit card transactions
15 Dec 2017
No transaction charges on debit card payments up to Rs 2,000
MDR is the rate charged to a merchant by a bank for providing debit and credit card services.
debit card transactions
06 Dec 2017
Debit card transaction charges to come down as RBI caps MDR on digital payments
The RBI today capped charges on debit card transaction at Rs 200 for small merchants and Rs 1,000 for merchants with over Rs 20 lakh annual turnover.
digital payments
24 Jan 2017
Digital payments: Panel recommends abolition of MDR, tax on cash transaction above Rs 50,000
To encourage digital transaction, the Chandrababu Naidu panel, in the report to PM Modi stated that bringing down cost of digital transactions was key to success of digital payments.
Cashless payment in petrol station
09 Jan 2017
Consumers, petrol pump owners won't pay surcharge on card payments: Dharmendra Pradhan
Neither the consumers, nor petrol pump owners will bear the burden of transaction surcharge on fuel purchases through debit or credit cards.
Petrol pumps
08 Jan 2017
Petrol pumps to not accept credit/debit card payments across India from Monday
With banks deciding to imposed transaction (MDR) charges on them instead of consumers, petrol pumps across India will not accept credit and debit card payments for fuel sales from Monday.
SBI
24 Nov 2016
Demonetisation: SBI waives merchant discount rate on Master, Visa debit cards
After RuPay debit cards, State Bank of India (SBI) waived off merchant discount rate (MDR) on Master and Visa debit cards. This is being done to promote digital transactions.
debit cards
23 Nov 2016
Banks waive MDR for all debit cards till December 31
Leading banks, including ICICI Bank and HDFC Bank, have waived merchant discount rate (MDR) on debit cards till December 31 to facilitate payments by customers following government's move to do away with the charge levied on merchants.
SBI
19 Nov 2016
Demonetisation: SBI waves merchant discount rate on RuPay debit cards
State Bank of India (SBI) waived merchant discount rate (MDR) on the RuPay Debit Cards with immediate effect.
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