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24-Nov2016

Yes Bank waives Merchant Discount Rate charges for all Debit Card transactions

Yes Bank has waived MDR charges (Merchant Discount Rate) for all Debit Card transactions across RuPay, MasterCard and Visa platforms at all its Merchant locations, including online transactions. This step has been taken as proactive measures to support the Government of India's landmark demonetization and propel digital payments in the country.

MDR is the fee charged to the merchant by the Bank to cover its costs and in turn passed onto Card schemes (RuPay, MasterCard and Visa). The waiver of MDR will ensure greater acceptance of Debit Cards by the Merchants thereby resulting in greater use of cards as a preferred payment method by our customers for their transactions.

Yes Bank, India's fifth largest private sector Bank with a pan India presence across all 29 states and 7 Union Territories of India, headquartered in the Lower Parel Innovation District (LPID) of Mumbai.




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