Which one of the following best describes the term 'Merchant Discount Rate' sometimes seen in news ? - Study24x7
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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.

UPSC
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