Business Wire IndiaIn support of Government’s demonetisation scheme and to offer ease and convenience to its merchants and customers, Axis Bank, India’s third largest private sector Bank today waived Merchant Discount Rate (MDR) transaction fees on debit card usage. The bank has waived the service charges on the use of debit cards at Axis Bank terminals (merchant acquiring) effective tonight up to December 31, 2016. Additionally, the bank has partnered with merchants to allow customers to withdraw cash at POS terminals. The bank will also leverage its contact-less technology at POS terminals for faster transactions.
Axis Bank is consistently educating the stakeholders to adopt to digital banking channels. The bank has enabled the local kirana stores, autorickshaws, vegetable & milk vendors and other small ticket size vendors to accept payment digitally through QR code. This digital initiative is offering convenience to the customers and facilitating small vendors to make cashless transactions. The bank has additionally deployed micro ATM facility for cash withdrawal across corporates, Police, Airports & Housing societies.
About Axis Bank
Axis Bank is the third largest private sector bank in India. Axis Bank offers the entire spectrum of services to customer segments covering Large and Mid-Corporates, SME, Agriculture and Retail Businesses.
With its 3,106 domestic branches (including extension counters) and 13,448 ATMs across the country, as on 30st September 2016, the network of Axis Bank spreads across 1,920 cities and towns, enabling the Bank to reach out to a large cross-section of customers with an array of products and services. The Bank also has nine overseas offices with branches at Singapore, Hong Kong, Dubai (at the DIFC), Shanghai and Colombo; representative offices at Dubai, Abu Dhabi and Dhaka and an overseas subsidiary at London, UK. The Bank’s website www.axisbank.com offers comprehensive details about its products and services.
