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Asia Times

Asia Times

Covering geo-political news and current affairs across Asia

Tag: MDR

Advertising boards for Paytm, a digital payment company, are seen at stalls of roadside vegetable vendors as they wait for customers in Mumbai. Photo: Reuters
Posted inIndia, South Asia

Waiver of merchant fee to boost digital payments in India

by Asia Times staff December 20, 2017February 18, 2020

The Indian government’s move to waive merchant discount rate (MDR) charges for all debit card and digital transactions up to Rs 2,000 (US$31.22) is expected to boost cashless transactions. The government will reimburse the same amount to banks for a period of two years, starting January 1, 2018. The founder of digital payments group Paytm, […]

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