New Delhi, January 11, 2017: (UNI) With a view to help the Small Merchants overcome the apprehensions towards joining this journey by installation of PoS terminals in their shops, State Bank of India (SBI) has decided to waive completely, the MDR charges on debit card transactions for all small merchants having annual turnover of up to Rs 20-lakh, for a period of one year i.e. up to 31-12-2017. The move is targeted primarily towards a segment of population and small merchants, who have not yet experienced the convenience of Card Payments. And, by actively canvassing the smaller Merchants, the Bank is trying to live up to its motto of being a “Banker to every Indian”. The Bank believes that this gesture would go a long way in changing the perception towards the cost of using Digital channels and supplement the Government’s Cashless India Drive. With an aim to build-up the PoS acceptance infrastructure across the Country, especially in areas which hitherto had low digital penetration, SBI has been deploying terminals in smaller towns, semi urban and rural areas since beginning. Close to 70 percent of its PoS terminals are deployed in non-metro centres, and these can be found in as many as 4,400 plus centres. –United News of India
