BharatQR MDR charges via GPAY for credit card scan and pay
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Any dimer making offline BharatQR payments using credit cards via GooglePay or any other application (non-Rupay). Are there any MDR charges to the merchant ? Any info about settlement time? Instant or T+1, T+2 etc
Is there any PSU/Pvt Bank that offers zero mdr bharatQR?
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I am paying by scanning a BharatQR code using SBI Card app since last 15 days only. Statement not generated yet. But isn't MDR paid by merchant?
That's the question. I too don't know whether merchant will receive full amount or mdr will be levied by banks
Any update regarding mdr charges,
Not sure. I checked official bank pages of HDFC Smart Hub, SBI Merchant etc but information is not clear. As per my primary understanding by visiting websites, MDR charges will be levied upto 2% irrespective of transaction amount. Please correct me if I'm wrong
Not just MDR, merchants have to pay monthly rental fee and lots of documents are required
Did you find out definite info on MDR? I have a nearby shop which has a Bharat QR by HDFC Bank PayZapp and I am able to use all 13 of my Visa/MC credit cards there using GPay (except the Yes Bank Visa one). I pay via those only at the shop. I wonder how much MDR the owner has to pay🤔
Also even if it has MDR, is it easy to get a Bharat QR ourselves with little verification ?
MDR is definitely there, varies from merchant to merchant based on relationship with bank. Most banks require a current account. In SBI, current account is not mandatory. Razorpay, pinelabs etc also offer BharatQR based devices but GSTIN is mandatory
settlement is instant... but there are some charges that you (customer) have to pay.