{"id":174524,"date":"2017-12-08T17:24:12","date_gmt":"2017-12-08T11:54:12","guid":{"rendered":"http:\/\/www.scconline.com\/blog\/?p=174524"},"modified":"2017-12-08T17:24:12","modified_gmt":"2017-12-08T11:54:12","slug":"rbi-caps-charges-debit-card-transactions-merchant-outlets-rs-200","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2017\/12\/08\/rbi-caps-charges-debit-card-transactions-merchant-outlets-rs-200\/","title":{"rendered":"RBI caps charges on debit card transactions at merchant outlets to Rs. 200"},"content":{"rendered":"

Rationalisation of Merchant Discount Rate (MDR) for Debit Card Transactions<\/strong><\/p>\n

Please refer to paragraph 1 of Statement on Developmental and Regulatory Policies<\/a> regarding revised framework for Merchant Discount Rate (MDR) for Debit Card Transactions announced in the Fifth Bi-monthly Monetary Policy Statement, 2017-18 by the Reserve Bank of India.<\/p>\n

2. The Reserve Bank had specified the maximum MDR applicable to debit card transactions vide its circular DPSS.CO.PD.No.2361\/02.14.003\/2011-12 dated June 28, 2012<\/a>, which was revised vide circular DPSS.CO.PD.No.1515\/02.14.003\/2016-17 dated December 16, 2016<\/a>.<\/p>\n

3. Based on consultations with stakeholders on the \u201cDraft Circular – Rationalisation of Merchant Discount Rate (MDR) for Debit Card Transactions\u201d, as also taking into account the twin objectives of promoting debit card acceptance by a wider set of merchants, especially small merchants, and ensuring sustainability of the business for the entities involved, it has been decided to rationalise the MDR for debit cards based on the following criteria:<\/p>\n

    \n
  1. Categorisation of merchants on the basis of turnover.<\/li>\n
  2. Adoption of a differentiated MDR for QR-code based transactions.<\/li>\n
  3. Specifying a ceiling on the maximum permissible MDR for both \u2018card present\u2019 and \u2018card not present\u2019 transactions.<\/li>\n<\/ol>\n

    4. Accordingly, the maximum MDR for debit card transactions shall be as under:<\/p>\n\n\n\n\n\n\n
    Sr. No<\/span><\/td>\nMerchant Category<\/span><\/td>\nMerchant Discount Rate (MDR) for debit card transactions
    \n(as a % of transaction value)<\/span><\/td>\n<\/tr>\n
    Physical POS infrastructure including online card transactions<\/span><\/td>\nQR code-based card acceptance infrastructure<\/span><\/td>\n<\/tr>\n
    1.<\/td>\nSmall merchants
    \n(with turnover up to Rs 20 lakh during the previous financial year)<\/td>\n    		Not exceeding 0.40%
    \n(MDR cap of Rs 200 per transaction)<\/td>\n    		Not exceeding 0.30%
    \n(MDR cap of Rs 200 per transaction)<\/td>\n<\/tr>\n
    2.<\/td>\nOther merchants
    \n(with turnover above Rs 20 lakh during the previous financial year)<\/td>\n    		Not exceeding 0.90%
    \n(MDR cap of Rs 1000 per transaction)<\/td>\n    		Not exceeding 0.80%
    \n(MDR cap of Rs 1000 per transaction)<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

    5. A reference is invited to our circulars DPSS.CO.PD. No. 639\/02.14.003\/2016-17 dated September 1, 2016<\/a> on unbundling of MDR and DPSS.CO.PD.No. 2894\/02.14.003\/2015-2016 dated May 26, 2016<\/a> on putting in place a Board approved policy for merchant acquisition. It is reiterated that the banks and authorised card payment networks shall strictly adhere to the above directions. Further, banks shall ensure that the MDR levied on the merchant shall not exceed the cap rates as prescribed above, irrespective of the entity which is deploying the card acceptance infrastructure at the merchant location.<\/p>\n

    6. Banks are also advised to ensure that merchants on-boarded by them do not pass on MDR charges to customers while accepting payments through debit cards.<\/p>\n

    7. The above instructions shall be effective from January 1, 2018<\/span><\/strong>. These instructions are subject to review.<\/p>\n

    8. The directive is issued under Section 10(2) read with Section 18 of Payment and Settlement Systems Act 2007, (Act 51 of 2007).<\/p>\n

    Reserve Bank of India<\/p>\n","protected":false},"excerpt":{"rendered":"

    Rationalisation of Merchant Discount Rate (MDR) for Debit Card Transactions Please refer to paragraph 1 of Statement on Developmental and Regulatory Policies <\/p>\n","protected":false},"author":91,"featured_media":108551,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1188,2],"tags":[26114,26104,2611],"class_list":["post-174524","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-hot_off_the_press","category-news","tag-debit-card-transactions","tag-merchant-discount-rate","tag-RBI"],"yoast_head":"\nRBI caps charges on debit card transactions at merchant outlets to Rs. 200 | SCC Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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\u201cOne way to curb the flow of black money is to discourage transactions in cash.\u2026","rel":"","context":"In "Legislation Updates"","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":218505,"url":"https:\/\/www.scconline.com\/blog\/post\/2019\/08\/22\/rbi-processing-of-e-mandate-on-cards-for-recurring-transactions\/","url_meta":{"origin":174524,"position":2},"title":"RBI | Processing of e-mandate on cards for recurring transactions","author":"Bhumika Indulia","date":"August 22, 2019","format":false,"excerpt":"The Reserve Bank of India (RBI) has, over the past decade, put in place various safety and security measures for card payments, including the requirement of Additional Factor of Authentication (AFA), especially for \u2018card-not-present\u2019 transactions. 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Based on Section 10 A of the Payment and Settlement Systems Act, 2000, any charge including the Merchant Discount Rate shall not\u2026","rel":"","context":"In "Legislation Updates"","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"https:\/\/pbs.twimg.com\/media\/EgqjKAvUYAI5W3C?format=jpg&name=900x900","width":350,"height":200,"srcset":"https:\/\/pbs.twimg.com\/media\/EgqjKAvUYAI5W3C?format=jpg&name=900x900 1x, https:\/\/pbs.twimg.com\/media\/EgqjKAvUYAI5W3C?format=jpg&name=900x900 1.5x, https:\/\/pbs.twimg.com\/media\/EgqjKAvUYAI5W3C?format=jpg&name=900x900 2x"},"classes":[]},{"id":266251,"url":"https:\/\/www.scconline.com\/blog\/post\/2022\/04\/30\/rbi-introduces-master-directions-rbi-credit-card-and-debit-card-issuance-and-conduct-directions-2022\/","url_meta":{"origin":174524,"position":5},"title":"RBI introduces Master Directions – RBI (Credit Card and Debit Card-Issuance and Conduct) Directions, 2022","author":"Prachi Bhardwaj","date":"April 30, 2022","format":false,"excerpt":"On 21st April, 2022, Reserve Bank of India issued Master Directions- RBI (Credit Card and Debit Card- Issuance and Conduct) Directions, 2022. Enforceable from 1st July 2022, these directions regulate the conduct of Credit\/Debit payments in Banks and Non-Banking Financial Companies (NBFCs). These provisions are non-operative on Payments Banks, State\u2026","rel":"","context":"In "Legislation Updates"","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/04\/MicrosoftTeams-image-147.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/04\/MicrosoftTeams-image-147.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/04\/MicrosoftTeams-image-147.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/04\/MicrosoftTeams-image-147.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/04\/MicrosoftTeams-image-147.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]}],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/174524","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/users\/91"}],"replies":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/comments?post=174524"}],"version-history":[{"count":0,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/174524\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media\/108551"}],"wp:attachment":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media?parent=174524"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/categories?post=174524"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/tags?post=174524"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}