No transaction fees on debit card payments of up to â¹2,000
The government has waived the Merchant Discount Rate (MDR) on all debit card, UPI, and Aadhaar-based transactions of up to â¹2,000 for the next two years, starting January 1, 2018. MDR is the rate charged to a merchant by a bank for providing debit and credit card services. The charges will be reimbursed by the government to the banks.