UPSC Prelims GS - 2018

Question 6
MEDIUMCorrect: +2Incorrect: -2

Which one of the following best describes the term "Merchant Discount Rate" sometimes seen in news?

    a
    The incentive given by a bank to a merchant for accepting payments through debit cards pertaining to that bank.
    b
    The amount paid back by banks to their customers when they use debit cards for financial transactions for purchaing goods or services.
    c
    The charge to a merchant by a bank for accepting payments from his customers through the bank's debit cards.
    d
    The incentive given by the Government to merchants for promoting digital payments by their customers through Point of Sale (PoS) machines and debit cards.