Business »  Topic »  Digital payments: NPCI cuts ceiling on merchant fees to banks

Digital payments: NPCI cuts ceiling on merchant fees to banks


The new rates will become effective on October 20.

The National Payments Corporation of India (NPCI) has lowered the ceiling on fees that merchants must pay banks for accepting digital payments involving amounts higher than Rs 2,000. Merchants will now have to shell out up to 0.6% for each debit card transaction with the maximum fee being capped at Rs 150. At present, this is capped at 0.90% for transactions above Rs 2,000, with a ceiling of Rs 1,000 per transaction. The merchant discount rate (MDR) for QR-based card transactions has also been fixed at ...


Read the full text financialexpress