A composite fee
is generally levied on merchants irrespective of the type of card used. In this
connection, it is advised that the banks shall:
i)
ensure
that MDR are clearly unbundled for different categories of cards;
ii)
enter
into separate agreements or annexes within the same agreement for debit, credit
and prepaid cards; and
iii)
educate
the merchants regarding the charges associated with different categories of
cards, at the time of acquisition.
Based on RBI notification dated 1/09/2016. For any further
clarification, please refer www.rbi.org.in
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