BANKING AFFAIRS

Detailed explanation-1: -Merchant discount rate or MDR is defined as the rate charged to a merchant for processing payment services. This fee is charged by banks on credit and debit card payments accepted from consumers for any services availed or goods bought.

Detailed explanation-2: -Medical Device Reporting (MDR) is one of the postmarket surveillance tools the FDA uses to monitor device performance, detect potential device-related safety issues, and contribute to benefit-risk assessments of these products.

Detailed explanation-3: -MDR (Merchant Discount Rate) is basically a fee that a merchant is charged by their issuing bank for accepting payments from their customers via credit and debit cards.

Detailed explanation-4: -Many of them still think that accepting payments online for small purchases would result in a high MDR or Merchant Discount Rate, which is not true.

Detailed explanation-5: -Merchant Discount Rate (MDR 9): This is the charge recovered by the acquirer from the final recipient of money (i.e., merchant). It is levied as a discount to the transaction amount and usually recovered during settlement of the payment transaction (Box 2).