 13-Jun-18, The Economic Times

Visa, the largest card payments network in India, has slashed the charges it levies on debit card transactions, a move that could substantially enlarge India’s digital payments market by bringing more small merchants and customers into the fold.

Image: The Economic Times

Visa said it would cut rates on debit card transactions by up to 95%. The largest quantum of decrease will apply to transactions under INR2,000 (USD29).

A spokesman for Visa said, "This will not only help drive the adoption of debit card payments among consumers but also assist client initiatives towards expanding digital payment infrastructure in support of the Digital India programme."

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