Question
Download Solution PDFWith respect to Debit Cards, in MDR , M stands for ________.
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFMDR (Merchant Discount Rate):-
- MDR is a fee charged from a merchant by a bank for accepting payments from customers through credit and debit cards in their establishments.
- MDR compensates the card-issuing bank, the lender which puts the PoS terminal and payment gateways such as Mastercard or Visa for their services.
- MDR charges are usually shared in pre-agreed proportion between the bank and a merchant and are expressed in percentage of the transaction amount.
Last updated on Jun 17, 2025
-> The IBPS Customer Service Associate (Clerk) Prelims 2025 will be held on 4th, 5th, 11th October 2025.
-> The Mains 2025 exam will take place on 29th November 2025.
-> The IBPS Clerk designation name has been changed to “Customer Service Associate” (CSA). This change in designation is effective from 01.04.2024.
-> The IBPS Clerk Notification 2025 is likely to be released in July, 2025.
-> Candidates with a graduate degree are eligible for this post.
->The selection process includes prelims and mains examinations.
-> Candidates must refer to the IBPS Clerk Previous Year Papers and IBPS Clerk Mock Test to prepare well.
-> Candidates can also Attempt Free Current Affairs Banking Mock Test