July 10, 2026 10:26 am (IST)
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Axis Bank announces waiver on Merchant Discount Rate
Mumbai, Nov 23 (IBNS): In support of Government's demonetisation scheme and to offer ease and convenience to its merchants and customers, Axis Bank on Wednesday waived Merchant Discount Rate (MDR) transaction fees on debit card usage.
The bank has waived the service charges on the use of debit cards at Axis Bank terminals (merchant acquiring) effective from Wednesday night up to Dec 31, 2016.
Additionally, the bank has partnered with merchants to allow customers to withdraw cash at POS terminals.
The bank will also leverage its contact-less technology at POS terminals for faster transactions.
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