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Banks face major hurdles in PoS installation
Banks must still bear the operational costs, including merchant discount rate (MDR) which they cannot collect for now. MDR is a commission charged by acquiring banks to the merchant for every transaction on its card machine. It is still not clear who will bear the cost of these 1 million PoS machines. Already, the loss to banks on account of waiver of MDR is at Rs300 crore, Hota said.
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