Practicing Success

Target Exam

CUET

Subject

General Test

Chapter

General Knowledge

Question:

Merchant discount rate refers to ______

Options:

the total discount a bank offers to the merchant for promoting online transactions

the total discount a merchant offers on online transactions

the rate charged to a merchant for payment processing services on debit and credit card transactions

only taxes that a digital payment entails

Correct Answer:

the rate charged to a merchant for payment processing services on debit and credit card transactions