Modi Government Removes Merchant Discount Rate For Digital Payments; Introduces 2% Fee On Cash Withdrawal

Modi Government Removes Merchant Discount Rate For Digital Payments; Introduces 2% Fee On Cash Withdrawal
Government of India has decided to remove MDR (Merchant Discount Rate) for all digital payments, which means from now on, all Digital Payments will be free of any additional charge. Meanwhile, an extra 2% surcharge on cash withdrawal has been proposed, which will mainly impact big, traditional businesses. No MDR On Digital Payments MDR or Merchant Discount Rate is a... Read More