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January 3 , 2020
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- From January onwards, all companies with a turnover of Rs 50 crore or more need to provide the facility of payment through RuPay Debit card and UPI QR code to their customers.
- Based in this new announcement, Merchant Discount Rate (MDR) fee will not be charged from customers as well as merchants.
- MDR is a fee charged from a merchant by a bank for accepting payments from customers through credit and debit cards in their establishments.
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