Question 26 of 61Indian Economy
Which one of the following statements best describes the term ‘Merchant Discount Rate’ sometimes seen in news?
AThe incentive given by a bank to a merchant for accepting digital payments
BThe rate charged to a merchant by a bank or payment service provider for processing payments
CThe discount offered by retailers to customers during sale season
DThe interest rate on short-term business loans
Correct Answer
The correct answer is hidden
Explanation
27 words hidden ... feature of card and digital payment ecosystems because it affects the cost of electronic payment acceptance. This term ... 26 words hidden