How digital payments merchants await debit card reimbursements since Jan

In a bid to encourage electronic payments, the central government in December 2017 decided to bear the MDR applicable on digital transactions worth Rs 2,000 through debit card

In a bid to encourage electronic payments, the central government in December 2017, decided to bear the merchant discount rate (MDR) applicable on digital transactions worth Rs 2,000 via debit card, UPI and Aadhaar-based transactions starting January 2018. Nine months have gone by, but the digital payments industry still awaits reimbursements.

According to a report by Mint, the government of India has already reimbursed the MDRs applicable on these transactions for a period from January to June to the banks. However, the banks have not reimbursed the amount to merchant aggregators and acquirers.

“As far as I am aware, none