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Merchant discount rate News

04 Nov 2024

Fintech Firm Cashfree Payments’ Losses Increase To Rs 135 Crore In FY24

As per its annual financial statements filed with the Registrar of Companies, the company’s total expenses increased by 3.9 per cent to Rs 779.4 crore in FY24, against Rs 750 crore in FY23.

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.

Debit Card payments

06 Apr 2017

Debit card payments: RBI to soon issue final guidelines on MDR charges

Aimed at encouraging digital transactions, the Reserve Bank on Thursday said it will soon come out with final guidelines on MDR charges on debit card payments.

Credit card transaction

04 Feb 2017

RBI proposes to waive off bank transaction charges, reduce interest rate for credit cards

In an attempt to promote cashless transactions in the country, Reserve Bank of India (RBI) has given banks the freedom to fix bank service charges for transactions.

debit card transactions

09 Jan 2017

Debit card transactions: SBI waives MDR charges for small merchants for one year

Country's largest lender SBI has waived Merchant Discount Rate (MDR) on debit card transactions for all small merchants with annual turnover of up to Rs 20 lakh for one year.

17 Dec 2016

Charges on debit card transactions of up to Rs 2,000 to be lowered by RBI

In order to promote digital payments, the Reserve Bank of India (RBI) lowered merchant discount rates or payments made by debit cards under Rs 2,000

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.

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.

16 Aug 2016

Govt to bear transaction cost of payments received via cards

In order to promote less cash economy, the government has said it will bear the transaction cost for all payments made to it through debit or credit cards and net banking.

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