What’s in the news? The Union Cabinet has approved the ‘Incentive Scheme for promotion of low-value BHIM-UPI transactions Person to Merchant (P2M)’ to encourage digital payments among small merchants. The scheme ensures zero Merchant Discount Rate (MDR) on UPI transactions …
About Merchant Discount Rate (MDR) is a fee charged from merchants or business owners when they receive payments from customers via digital methods such as credit and debit cards. MDR compensates the bank issuing the card, the bank which …