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Dec 08, 2017
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RBI's MDR rationalisation may discourage retailers, undermine digitisation efforts
Shortly after the Reserve Bank of India’s (RBI) announcement of rationalisation of merchant discount rates aimed at boosting non-cash transactions, payment gateways are crying foul stating that with no equitable distribution of MDR, the slashing of rates will only add to their pain. The RBI, through a notification dated 6 December, 2017, has revised the Merchant Discount Rates (MDR) for debit card transactions at large format retail stores from 0.5 percent per transaction to 0.9 percent (not exceeding Rs 1,000).
Source -
http://www.firstpost.com
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