Merchant Discount Rate

The move is contrary to various studies, including the Reserve Bank's vision document released not so long ago, the Payments Council of India said in a statement July 8.

Govt mulls reducing MDR charges on card payments

The government is working to reduce Merchant Discount Rate (MDR) charges to encourage digital payments, Niti Aayog CEO Amitabh Kant said today.

MDR charges for debit card payments to govt waived off

MDR is the rate charged by banks to merchants for providing debit and credit card services

RBI may consider extending deadline for reduced MDR: Pradhan

Petroleum Minister Dharmendra Pradhan today said RBI may consider extending deadline for reduced Merchant Discount Rate (MDR) charges at petrol pumps beyond March 31 to promote digital transaction.

Fuel purchases via cards won't attract transaction fee: Govt

Credit and debit cards will continue to be accepted at petrol pumps even after January 13 without customers having to pay transaction charges, the government said today.

In consultation with all stake holders on MDR issue: Pradhan

il Ministry is meeting with OMCs, the Finance Ministry, dealers, bankers to resolve MDR issue, said Dharmendra Pradhan, Oil Minister.

Banks waive MDR for all debit cards till December 31

Country's largest private sector lender ICICI Bank announced waiving the MDR on debit card transactions at all merchants serviced by its merchant acquiring arm ICICI Merchant Services IMSL.