UPSC Prelims GS Paper I 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