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Government’s Zero Merchant Discount Rate Criticized by VISA
August 23, 2019
Payments giant VISA has recently joined the group of companies that have chided the government’s decision to remove Merchant Discount Rates (MDR) i.e. the fees that the lenders charge from the merchants for processing digital transactions.
A senior VISA spokesperson said that if there is no incentive for any entity to deploy the POS terminals and introduce them in tier-III and tier-IV cities, then it’s like saying that data is free and voice is free but without the underlying infrastructure.
VISA’s country manager T R Ramachandran said that it costs banks money to deploy terminals and someone has to pay for it. He also said that he strongly believes in low economics but no economics student will ever believe in no economics.
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