Visa talks tough on govt's move towards no-fee debit card transaction

Global card payments group Visa is critical of the Indian government's decision to boost adoption of electronic payments by requiring banks and card payment networks to offer no-fee debit card transactions, a senior Visa executive said.

Last month, India's Finance Minister Nirmala Sitharaman said that businesses with annual turnover of Rs 50 crore  will not have to pay a merchant discount rate on debit card and other digital modes of transactions, excluding credit cards. The discount rate is paid by the merchant to banks,.....

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