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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.

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.

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.

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.

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