Mdr
This query is : Resolved
rahul narang
(Querist)
17 August 2012
What is meant by merchant discount rate in case of debit card and credit card?please explain in simple language
Amol S Joglekar
(Expert)
20 August 2012
the rate of discount accepted by the merchant. Say you buy an article through debit card from XYZ enterprises for INR5000/- The xyz enterprises accept only say 4950 from the concerned bank. This 50 is called merchant discount. Now the question is why do xyz enterprises accept discount. It is with the hope that the sales will go up if more and more people start using debit/ credit cards.
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