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Author Topic: No More Extra Fees on Debit Card Swipes at Retail Outlets  (Read 7235 times)

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cardbhai

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No More Extra Fees on Debit Card Swipes at Retail Outlets
« on: September 26, 2013, 09:55:54 PM »
The RBI has come down heavily on the merchants / retailers charging an extra 1.5% to 2.5% for Debit Cards. Merchants do incur a fee of around 0.75% in all for accepting Debit Cards which is known as the Merchant Discount Rate. However, effective today you need not pay this Extra Debit Card Fees and quote this RBI circular for reference

http://www.rbi.org.in/scripts/NotificationUser.aspx?Id=8461&Mode=0

Credit Card incur a Higher Merchant Discount Rate as Described in this Article http://www.cardbhai.com/2012/06/debit-card-acceptance-by-merchants-to-get-cheaper-in-india-rbi.html [May Vary from Bank to Bank]
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