Qatar Central Bank (QCB) has decided to lower and unify the current merchant discount rate (MDR), in a move aimed at encouraging and promoting the acceptance of electronic payments using cards. MDR is the rate charged to a merchant for the payment processing of debit and credit card transactions. QCB made the announcement on Twitter yesterday. The central bank explained that for debit cards, the MDR for micro businesses and gas stations will be 0.5% with a maximum limit of QR50, and 1.1% for other businesses with a maximum limit of QR110. The above rates apply to local prepaid cards (NAPS) as well. For payments made with the first national prepaid card (Himyan), the MDR for micro businesses and gas stations will be 0.5% with a maximum limit of QR50, and 0.85% with a maximum limit of QR85 for other businesses. Regarding international credit cards, QCB said the MDR is 1.25% for micro businesses and 1% for gas stations.
May 22, 2023 | 09:47 PM