Which one of the following best describes the term "Merchant Discount Rate" sometimes seen in news ?
a
The incentive given by a bank to a merchant for accepting payments through debit cards pertaining to that bank.
b
The amount paid back by banks to their customers when they use debit cards for financial transactions for purchasing goods or services.
c
The charge to a merchant by a bank for accepting payments from his customers through the bank's debit cards.
d
The incentive given by the Government to merchants for promoting digital payments by their customers through Point of Sale (PoS) machines and debit cards.
Indian EconomyDigital Payments & Banking TerminologyMerchant Discount Rate (MDR)Debit cardsCredit cardsDigital paymentsBanksMerchantsFinancial transactionsPoint of Sale (PoS)