{"id":10687,"date":"2019-08-21T18:30:27","date_gmt":"2019-08-21T13:00:27","guid":{"rendered":"https:\/\/www.instamojo.com\/blog\/?p=10687"},"modified":"2021-06-15T19:00:31","modified_gmt":"2021-06-15T13:30:31","slug":"no-fee-debit-card-transactions-merchants","status":"publish","type":"post","link":"https:\/\/www.instamojo.com\/blog\/no-fee-debit-card-transactions-merchants\/","title":{"rendered":"No-Fee Debit Card Transactions: What it Means For Small Businesses"},"content":{"rendered":"<p>Did you know the government has introduced a no-fee debit card policy? This will remove any charges levied on debit card and other electronic modes except Credit card transactions.<\/p>\n<p>To push digital payments in India, Finance Minister Nirmala Seetharaman stated that <strong>any business with an annual turnover of Rs.<\/strong><strong>50 crore will not be required to pay the transaction charges on any debit card and other digital modes of transactions<\/strong>, excluding credit cards. This typically means 0% MDR on debit card charges!<\/p>\n<h2>What is MDR?<\/h2>\n<p>MDR is the rate charged to a merchant by payment processing services on debit and credit card transactions.<\/p>\n<p><strong>How does MDR work?<\/strong> Every time a merchant swipes their card or makes an online payment, the bank charges a fee. The bank deducts a fee while crediting sale proceeds to a merchant&#8217;s bank account.<\/p>\n<p class=\"p1\">Merchants pay MDR to banks, card payment networks, and other payment service providers for digital transactions.<\/p>\n<h2>No-Fee Debit Card Transactions &#8211; Good News For Merchants<\/h2>\n<p><span style=\"color: #0000ff;\"><span style=\"color: #333333;\">No-fee debit card transactions <\/span><\/span>are a blessing for small businesses that still use cash for daily payments. With the <span style=\"color: #0000ff;\"><a style=\"color: #0000ff;\" href=\"https:\/\/www.moneycontrol.com\/news\/business\/economy\/visa-critical-of-indias-move-towards-no-fee-debit-card-transactions-4350851.html\" target=\"_blank\" rel=\"nofollow noopener\">new rule<\/a><\/span>, you can use debit cards for any amount of payment.<\/p>\n<h3>Benefits of Debit Cards for Small Businesses:<\/h3>\n<ol>\n<li class=\"p1\">The average debit card transaction in India is less than Rs. 150; Accepting debit cards will become as cheap as accepting cash.<\/li>\n<li>The no-fee debit card transaction rule will allow businesses to accept\u00a0<span style=\"color: #0000ff;\"><a style=\"color: #0000ff;\" href=\"https:\/\/www.instamojo.com\/blog\/the-rise-of-digital-pos-what-the-rbi-is-planning\/\" target=\"_blank\" rel=\"noopener\">POS transactions.<\/a><\/span><\/li>\n<li>Most customers have a bank account, thereby having a debit card. This move just means more flexibility for your business to accept online payments.<\/li>\n<\/ol>\n<p><strong>With over 824 million debit cards issued this year and <span style=\"color: #0000ff;\"><a style=\"color: #0000ff;\" href=\"https:\/\/www.instamojo.com\/blog\/rupay-card-launch-in-bhutan-will-benefit-digital-payments-in-india\/\" target=\"_blank\" rel=\"noopener\">RuPay cards <\/a><\/span>going international, the Government&#8217;s strategy to promote a no-fee debit card rule could work wonders for small businesses.<\/strong><\/p>\n<h2>FREE Online Payments for your business<\/h2>\n<p>At Instamojo, we allow businesses to collect payments for FREE on all modes of payments including Debi Cards, Credit Cards, and even all modes of UPI!<\/p>\n<p>Start your Instamojo experience today.<\/p>\n<hr \/>\n<p style=\"text-align: center;\"><a class=\"mb-button mb-style-flat mb-size-default mb-corners-default mb-text-style-default\" style=\"background-color: #4e4e91;\" href=\"https:\/\/www.instamojo.com\/?ref=blog\">COLLECT PAYMENTS ON INSTAMOJO<\/a><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"Did you know the government has introduced a no-fee debit card policy? This will remove any charges levied&hellip;\n","protected":false},"author":6,"featured_media":10717,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[398,1],"tags":[2156,2155,2151,1502,1581,2154,2153,2152,2150],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v17.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>No-Fee Debit Card Transactions Is Good For Merchants - Instamojo<\/title>\n<meta name=\"description\" content=\"Did you know the government has introduced a no-fee debit card policy? 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This will remove any charges levied on debit card and other electronic modes except Credit card transactions.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.instamojo.com\/blog\/no-fee-debit-card-transactions-merchants\/\" \/>\n<meta property=\"og:site_name\" content=\"Blog Instamojo\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Instamojo\" \/>\n<meta property=\"article:author\" content=\"facebook.com\/instamojo\" \/>\n<meta property=\"article:published_time\" content=\"2019-08-21T13:00:27+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-06-15T13:30:31+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.instamojo.com\/blog\/wp-content\/uploads\/2019\/08\/no-fee-debit-card-transactions.png\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"500\" \/>\n<meta name=\"twitter:card\" content=\"summary\" \/>\n<meta name=\"twitter:creator\" content=\"@instamojo\" \/>\n<meta name=\"twitter:site\" content=\"@instamojo\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Instamojo\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.instamojo.com\/blog\/#organization\",\"name\":\"Instamojo\",\"url\":\"https:\/\/www.instamojo.com\/blog\/\",\"sameAs\":[\"https:\/\/www.facebook.com\/Instamojo\",\"https:\/\/www.instagram.com\/instamojo_india\/\",\"https:\/\/www.linkedin.com\/company\/instamojo\/\",\"https:\/\/www.youtube.com\/user\/instamojo\",\"https:\/\/in.pinterest.com\/instamojo\/\",\"https:\/\/twitter.com\/instamojo\"],\"logo\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/www.instamojo.com\/blog\/#logo\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/www.instamojo.com\/blog\/wp-content\/uploads\/2020\/10\/Instamojo-logo.png\",\"contentUrl\":\"https:\/\/www.instamojo.com\/blog\/wp-content\/uploads\/2020\/10\/Instamojo-logo.png\",\"width\":400,\"height\":92,\"caption\":\"Instamojo\"},\"image\":{\"@id\":\"https:\/\/www.instamojo.com\/blog\/#logo\"}},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.instamojo.com\/blog\/#website\",\"url\":\"https:\/\/www.instamojo.com\/blog\/\",\"name\":\"Blog Instamojo\",\"description\":\"eCommerce business growth blog\",\"publisher\":{\"@id\":\"https:\/\/www.instamojo.com\/blog\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.instamojo.com\/blog\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/www.instamojo.com\/blog\/no-fee-debit-card-transactions-merchants\/#primaryimage\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/www.instamojo.com\/blog\/wp-content\/uploads\/2019\/08\/no-fee-debit-card-transactions.png\",\"contentUrl\":\"https:\/\/www.instamojo.com\/blog\/wp-content\/uploads\/2019\/08\/no-fee-debit-card-transactions.png\",\"width\":800,\"height\":500,\"caption\":\"No-fee debit card transactions\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.instamojo.com\/blog\/no-fee-debit-card-transactions-merchants\/#webpage\",\"url\":\"https:\/\/www.instamojo.com\/blog\/no-fee-debit-card-transactions-merchants\/\",\"name\":\"No-Fee Debit Card Transactions Is Good For Merchants - Instamojo\",\"isPartOf\":{\"@id\":\"https:\/\/www.instamojo.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.instamojo.com\/blog\/no-fee-debit-card-transactions-merchants\/#primaryimage\"},\"datePublished\":\"2019-08-21T13:00:27+00:00\",\"dateModified\":\"2021-06-15T13:30:31+00:00\",\"description\":\"Did you know the government has introduced a no-fee debit card policy? 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