MERCHANT DISCOUNT CHARGES

Bank of Baroda credit cards: The hiked rates are applicable from June 26, 2024, as per the Most Important Terms and Conditions pages on the GetOnecard website.

Happy Monday! UPI's ease of use is driving a shift to cashless payments, leaving debit cards behind. This and more in today’s ETtech Morning Dispatch.

Industry insiders told us that while new PoS terminals are still being deployed, it’s mostly in organised and large format retail, which offer all payment forms. However, grocery shops, smaller stores and eateries are tilting towards QR code-based U...

The UPI payment ecosystem is currently under the sway of two major players – Google Pay, commanding a substantial 47% market share, and PhonePe, a Walmart subsidiary, holding a significant 37% share. This duopoly underscores the competitive landscap...

The RuPay credit card was launched in 2017 and these enable secured payments for purchasing goods and services at merchant locations in India as well as abroad. Given below are the top credit cards available on the Rupay network chosen basis the ove...

YES Bank has revised certain features available on all its credit cards except its premium card variant-private. Further experts say that YES Bank is the first bank in India to impose a 1% extra charge on all utility bill payments via credit cards. ...

Indian startups are under scrutiny from the income-tax department over the funding that they’ve raised. This and more in today’s ETtech Morning Dispatch.

Here is a look at the finance charges and late payment fee for the top banks' shopping credit cards as on December 12, 2023.

UPI transaction charges: NPCI has advised that UPI transactions made via prepaid instruments, such as wallets and cards will attract an interchange fee of 1.1 per cent for merchant payments from April 1, 2023. The interchange fee will be levied only...

The interest rate that is charged on revolving dues of a credit card, can go typically up to 42% per annum, if you do not pay off the total dues by the due date. This is why many people covert their spends into EMIs. Moreover, due to various deals o...

Dunzo’s efforts come at a time when it has simultaneously been looking to arrange new capital from both existing and new investors. In June, JioMart, the biggest customer of Dunzo’s B2B arm Dunzo Merchant Services (DMS), cut the prices it paid for l...

For the first time, Amazon’s average cut of each sale surpassed 50% in 2022, according to a study by Marketplace Pulse, which sampled seller transactions going back to 2016.

Overall, it seems as if a tussle is brewing between India’s monetary and fiscal authorities. However, to objectively evaluate this debate on charges for P2M transactions, it is important to understand incentives and dynamics at play in the payments ...

On the withdrawal restrictions on BSBD or zero-balance accounts, the report said "in the current phase of digital payments, RBI has to devise ways and means to keep the digital payments outside the age-old definition of withdrawal restrictions in sa...

​​The government abolished MDR on transactions using RuPay debit cards and Unified Payments Interface (UPI) from January 1, 2020. But banks were allowed to impose MDR - 0.4-0.9% - on merchants for transactions using Mastercard and Visa debit cards. ...

However, key stakeholders – the banks and payment companies -- would continue to demand the resumption of transaction charges albeit a discounted one, on UPI and RuPay, in the upcoming union budget.

Banks and digital payments providers have met with officials of the finance and information technology ministries, seeking a ‘flat, slab-based MDR’ on UPI transactions.

Central Board of Direct Taxes has also directed banks to refund charges since January 1, 2020, collected on transactions carried out using electronic modes including UPI by businesses having turnover of over Rs 50 crore.

“Wherever in the world MDR has been reduced to the levels where it makes it uneconomical for the acquirer or issuer to participate in the natural business of electronic payments, you tend to lose the momentum. It’s a balancing act,” he said in a tel...