Dear Clients,
Wish you a Happy New Year 2020!
We would like to extend an important information related to the debit card payments and online payment gateway transactions through debit cards. We have been informed by our payment gateway & banking partners that MeitY (Ministry of Electronic & Information Technology) has discontinued MDR reimbursement to banks for debit card transactions upto INR 2000.00 from 1st January 2020. This implies that all the debit card transactions amounting up to Rs.2000.00 shall attract transaction fee from 1st January 2020, which was earlier exempted by the Govt. for two years ending on 31st December 2019 to promote debit card transactions in India.
We are following up with the concerned partners to understand the revised charges and will be sharing the revised charges applicable for you accordingly.
Please note that in case your online payment gateway is configured with the surcharge module where the transaction charges are borne by the payer, the charges on the debit card transactions will be automatically reflected on the respective payment gateway interfaces during the transaction payable extra above the base transaction amount.
For any further queries or clarification please feel free to get in touch.