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MasterCard, Visa and RuPay to take Rs 1,000-crore revenue hit as they help push digital payments
The payment processors make anything between six and eight basis points on these transactions from acquirer and issuing banks. The National Payments Corporation of India (NPCI) also collects 60 paise from card-issuing banks and 30 paise from the bank that issues the swipe machine. Because of a recent directive from the RBI, banks will not get MDR from merchants till December 31.
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