NEW DELHI: Customers will not have to pay any transaction charges for bills through debit card, BHIM app and different payment made for as much as Rs 2,000 from these days onwards.
Last month, Union Cabinet approved an offer that government will bear the service provider cut price price (MDR) charges on transactions as much as Rs 2,000 made through debit cards, BHIM UPI or Aadhaar-enabled payment systems to advertise digital transactions.
"Happy Digital 2018. December Quarter BHIM transaction rises 86 per cent to 145.6 million with value of Rs 13,174 crore," Financial Services Secretary Rajiv Kumar mentioned in a tweet.
"Further impetus to digital payments, government to reimburse charges for transaction up to Rs 2,000 on debit cards/BHIM. Zero charges on merchants. Go Digital, embrace transparency," he mentioned.
The service provider cut price price (MDR) will probably be borne by means of the government for 2 years with effect from January 1, 2018 by means of reimbursing the similar to banks.
The move will have an have an effect on of Rs 2,512 crore at the exchequer.
The decision was once taken on the Cabinet meeting chaired by means of Prime Minister Narendra Modi.
Last month, Union Cabinet approved an offer that government will bear the service provider cut price price (MDR) charges on transactions as much as Rs 2,000 made through debit cards, BHIM UPI or Aadhaar-enabled payment systems to advertise digital transactions.
"Happy Digital 2018. December Quarter BHIM transaction rises 86 per cent to 145.6 million with value of Rs 13,174 crore," Financial Services Secretary Rajiv Kumar mentioned in a tweet.
"Further impetus to digital payments, government to reimburse charges for transaction up to Rs 2,000 on debit cards/BHIM. Zero charges on merchants. Go Digital, embrace transparency," he mentioned.
The service provider cut price price (MDR) will probably be borne by means of the government for 2 years with effect from January 1, 2018 by means of reimbursing the similar to banks.
The move will have an have an effect on of Rs 2,512 crore at the exchequer.
The decision was once taken on the Cabinet meeting chaired by means of Prime Minister Narendra Modi.
No charges on debit card transactions up to Rs 2,000
![No charges on debit card transactions up to Rs 2,000]()
Reviewed by Kailash
on
January 01, 2018
Rating:
