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Latest News on Merchant Discount Rate
Showing of 0 - 10 from 12 results
Merchant Discount Rate - Total results - 12
Jul 09, 2019
Payments Council says abolishing MDR charges to dry up investment capital; will kill revenue source for industryAbolishing merchant discount rate (MDR) to facilitate digital transaction in the country will dry up foreign capital investment besides leaving the sector without sources of revenue generation, the Payments Council of India (PCI) said on Tuesday
Jul 05, 2019
Petrol and Diesel Budget 2019: Cess on petrol, diesel hiked by Re 1 per litre; customs duty on gold increasedSitharaman proposed to increase special additional excise duty and road and infrastructure cess each one by 1 rupee a litre on petrol and diesel.
Mar 04, 2019
Unauthorised surcharging, high MDR charges impeding online payment system, says studyThe study done by Ashish Das, a professor of statistics, highlighted that unauthorised surcharging has also burdened the payment system users with huge additional costs.
Jan 02, 2018
Digitisation push: No charges on debit card payments up to Rs 2,000, MDR to be borne by govt for 2 yearsUnion Cabinet approved a proposal that government will bear the merchant discount rate (MDR) charges on transactions up to Rs 2,000 made through debit cards, BHIM, UPI or Aadhaar-enabled payment systems to promote digital transactions.
Dec 17, 2017
Government to bear MDR charges on transactions through BHIM UPI or Aadhaar-enabled payment systemsThe merchant discount rate (MDR) will be borne by the government for two years with effect from 1 January 2018 by reimbursing the same to the banks.
Dec 15, 2017
In a big push to 'cashless economy', govt waives MDR charges for digital transactions up to Rs 2,000Ravi Shankar Prasad was briefing the media about the Union Cabinet scrapping MDR for debit card payments and other digital transactions
Dec 06, 2017
RBI to rationalise merchant discount rate for debit card transactions; final guidelines todayAs per the draft guidelines issued in February 2017, the MDR has been proposed at 0.40 percent of the transaction value for small merchants with annual turnover of Rs 20 lakh
Feb 22, 2017
Government is looking at charges on card payments; may reduce Merchant Discount RateThe government is looking to reduce Merchant Discount Rate (MDR) charges to encourage digital payments, Niti Aayog Chief Executive Amitabh Kant said on Tuesday. "We are pushing digital transactions. Our aim is to bring down MDR charges.
Feb 16, 2017
RBI to reimburse banks MDR charges effective 1 January"In order to operationalise the (government's direction), the Reserve Bank will reimburse banks MDR on debit cards used for payment of tax and non-tax dues to the government of India with effect from January 1, 2017," the central bank said in a notification.
Jan 08, 2017
Cashless payments: Petrol pumps defer decision on card transactions until 13 JanuaryPetrol pumps across the country will stop accepting debit or credit card payments from Monday onwards in protest against the 1 percent transaction fee imposed by banks.