UPSC Civil Services Prelims 2015
Question 11 of 55Indian Economy
Which one of the following best describes the term ‘Merchant Discount Rate’ in digital transactions?
AThe rate of interest charged by a bank on merchant loans
BThe fee charged to a merchant by a bank or payment service provider for processing digital payments
CThe discount given by a merchant to encourage digital payments
DThe tax imposed on online retail transactions
Correct Answer
The correct answer is hidden
Explanation
25 words hidden ... It is a key element of the digital payments ecosystem because it affects the cost of accepting non-cash payments. It is ... 23 words hidden