How the Merchant Discount Rate Works.

The merchant discount rate (MDR) is the fee charged to a merchant by a bank for accepting payments by credit or debit card. MDR is typically a percentage of the transaction value, and varies depending on the type of card used, with premium cards such as American Express generally attracting higher rates than standard Visa … Read more

What Is the Mumbai Interbank Forward Offer Rate (MIFOR)?

The Mumbai Interbank Forward Offer Rate (MIFOR) is the rate at which banks offer to lend funds to one another in the forward market in Mumbai. This rate is used as a benchmark for pricing forward contracts in a number of currencies. What is meant by interbank? The interbank market is the global network of … Read more