MERCHANT DISCOUNT RATE
PSBs set to limit electronic fund transfer charge
“This is to further promote digital and card payments,” the finance ministry said in a statement, adding that these directions will apply for all transactions up to March 31.
Some banks begin levying MDR charges on debit card payments
It had asked banks and prepaid payment instrument issuers not to levy any charges...
Banks may take Rs 1000 crore hit on card fee waiver
As of now major banks and payment companies have waived MDR till December 30 which is als...
Demonetisation: Modi govt is betting its future on digital India. Will it bear good results?
Majority of online transactions with the govt attract a convenience fee which is the reverse of what the govt is talking about regarding digital payments.
Will the Banks Board Bureau be able to transform ailing public sector banks?
You name a problem, the sector has it. Weak capital, high bad loans, poor demand, intensifying competition, and many more.
MasterCard, Visa and RuPay to take Rs 1,000-crore revenue hit as they help push digital payments
This loss is because the merchant discount rate (MDR) on the usage of debit cards at PoS (point of sale) transactions has been waived till December 31.
Before note ban, debit card was used 2.2 times per year
The government announced that all public sector banks and some private banks have waived the merchant discount rate on debit cards until December-end.
Payments going the plastic way: Is India ready for cashless transactions?
A slow and unstable internet, lack of infra in rural India to accept card and a mindset that needs a reboot may make the transition challenging.
Stakeholders believe, MDR waiver may hurt digital India
Finance Minister Nirmala Sitharaman on Saturday said that the zero MDR regime would kick in once the Department of Revenue issued a gazette notification on January 1. Top industry players say Centre’s decision on not levying merchant discount rates will make the business model unviable.
Card fees for banks set to fall, may pass on benefit to traders
Even before demonetisation, two committees appointed by the government were examining a proposal to cut charges on card transactions.
Techprocess Payments Services aims to up government transactions to Rs 100 crore a day
It said last fiscal, it witnessed a GTV of Rs 24.55 billion a month and is targeting to increase it to Rs 30 billion a month for this fiscal.
Government wants Railways, banks to cut transaction cost on cards
In the months ahead, the National Highways Authority of India will offer some a cash back facility for those using a Tag that will help them drive through toll plazas smoothly.
Auto sales, macro data, RBI's Operation Twist among key factors steering market this week
For the week, Sensex slipped 106.40 points or 0.26 per cent, to close at 41,575 on Friday.
Curbing black money: Government plans to promote cashless economy
The government is looking at a slew of measures to promote cashless economy, including creating an ecosystem to incentivise cashless transactions.
Why our valuation methods can’t forecast the future for an Asian Paints or a HDFC Bank?
There are challenges in using the conventional DCF approach for valuing companies in India.
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