LTF Swiping Machine with ZERO MDR

[yusuf646]

There's a hardware shop in my city that has a current account with Canara Bank. The bank provided them with an mSwipe swiping machine at no cost. They paid nothing for the machine, no deposit, initial amount, rental, or installation charges.

They also have zero MDR for credit card payments. How it's possible? if the MDR is zero, who is covering the cost of our rewards?

Why is the bank offering these machines to large merchants instead of small ones? Large merchants typically don't worry about rentals, MDR, or device installation fees, yet they receive these benefits for free.

 

[Rahul Gupta]

There's a hardware shop in my city that has a current account with Canara Bank. The bank provided them with an mSwipe swiping machine at no cost. They paid nothing for the machine, no deposit, initial amount, rental, or installation charges.

They also have zero MDR for credit card payments. How it's possible? if the MDR is zero, who is covering the cost of our rewards?

Why is the bank offering these machines to large merchants instead of small ones? Large merchants typically don't worry about rentals, MDR, or device installation fees, yet they receive these benefits for free.

View attachment 54025

Zero installation and rental is understandable but zero MDR?

@Abhishek012 How is it possible?

 

[yusuf646]

Zero installation and rental is understandable but zero MDR?

@Abhishek012 How is it possible?

For me, the free machine is also surprising because it's a full touch screen 4G Android swiping machine, yet they got it for free wo bhi without monthly rental?

Mujhe bhi chahiye😂😂

 

[iNokia]

AMEX ka khauf hai market mein

 

[Slayer]

For me, the free machine is also surprising because it's a full touch screen 4G Android swiping machine, yet they got it for free wo bhi without monthly rental?

Mujhe bhi chahiye😂😂

Mera bhi karwa dena

 

[Aniket]

AMEX ka khauf hai market mein

Just 3% 💀

 

[Aniket]

There's a hardware shop in my city that has a current account with Canara Bank. The bank provided them with an mSwipe swiping machine at no cost. They paid nothing for the machine, no deposit, initial amount, rental, or installation charges.

They also have zero MDR for credit card payments. How it's possible? if the MDR is zero, who is covering the cost of our rewards?

Why is the bank offering these machines to large merchants instead of small ones? Large merchants typically don't worry about rentals, MDR, or device installation fees, yet they receive these benefits for free.

View attachment 54025

Credit Regular: 0% 🤡

Whereas Debit Card: 0.40% 🫤

Amex: 3% 💀

 

[yusuf646]

Just 3% 💀

AMEX ko free karna afford nahi kar payenge😂

 

[yusuf646]

Credit Regular: 0% 🤡

Whereas Debit Card: 0.40% 🫤

Amex: 3% 💀

Exactly, it's confusing 😂

 

[dvader]

I think this is some introductory/promotional offer of some kind. The reason it's not possible is because it's unsustainable and a total loss, credit card payments doesn't only have to cover for rewards, there is network's cut, banks have to put away money for credit default risk as a regulatory requirement, there is compliance cost involved, etc etc. There is no way this is LTF MDR. Machine could be LTF on a promotional basis for few lucky customers.

And they have MDR on debit card, may be the bank has done some market research and knows that 90% traffic would come on debit card. But again there is no way this is permanent.

 

[Aniket]

Mujhe bhi chahiye😂😂

 

[Aniket]

There's a hardware shop in my city that has a current account with Canara Bank. The bank provided them with an mSwipe swiping machine at no cost. They paid nothing for the machine, no deposit, initial amount, rental, or installation charges.

They also have zero MDR for credit card payments. How it's possible? if the MDR is zero, who is covering the cost of our rewards?

Why is the bank offering these machines to large merchants instead of small ones? Large merchants typically don't worry about rentals, MDR, or device installation fees, yet they receive these benefits for free.

View attachment 54025

Bro firh aap kis chiz ka wait kar rahe, TapnPay pura complete karke aaya 😂

 

[Tejo]

There's a hardware shop in my city that has a current account with Canara Bank. The bank provided them with an mSwipe swiping machine at no cost. They paid nothing for the machine, no deposit, initial amount, rental, or installation charges.

They also have zero MDR for credit card payments. How it's possible? if the MDR is zero, who is covering the cost of our rewards?

The Banks usually will offer zero in the beginning to push up sales but later they might charge.

 

[yusuf646]

I think this is some introductory/promotional offer of some kind. The reason it's not possible is because it's unsustainable and a total loss, credit card payments doesn't only have to cover for rewards, there is network's cut, banks have to put away money for credit default risk as a regulatory requirement, there is compliance cost involved, etc etc. There is no way this is LTF MDR. Machine could be LTF on a promotional basis for few lucky customers.

And they have MDR on debit card, may be the bank has done some market research and knows that 90% traffic would come on debit card. But again there is no way this is permanent.

Yes, you may be right, but the machine has been working for more than a year now.

 

[plastikman]

AMEX ko free karna afford nahi kar payenge😂

Kitne Amex wale hardware shop aayenge ? Waise bhi Amex pe spend based benefits kuch nahi hai

 

[yusuf646]

Bro firh aap kis chiz ka wait kar rahe, TapnPay pura complete karke aaya 😂

Mai to mast friendship maintain kar raha hun owner ke sath. You know why😅

 

[yusuf646]

Kitne Amex wale hardware shop aayenge ? Waise bhi Amex pe spend based benefits kuch nahi hai

Yes. Abhi tak ek bhi Amex card swipe nahi hua hai wo swiping machine me.

 

[Aniket]

Mai to mast friendship maintain kar raha hun owner ke sath.

Waah bhaut badhiya 😂

You know why😅

Haan jee bro samjh aagya 💀
Owner na bhi ho toh beta beti se kar lena so called friendship 😂

 

[shrewdoc]

There's a hardware shop in my city that has a current account with Canara Bank. The bank provided them with an mSwipe swiping machine at no cost. They paid nothing for the machine, no deposit, initial amount, rental, or installation charges.

They also have zero MDR for credit card payments. How it's possible? if the MDR is zero, who is covering the cost of our rewards?

Why is the bank offering these machines to large merchants instead of small ones? Large merchants typically don't worry about rentals, MDR, or device installation fees, yet they receive these benefits for free.

View attachment 54025

I think he has some DAMN GOOD banking relationship, because Sarkari bank se itna FREE mein lena IMPOSSIBLE.

 

[sidp]

There's a hardware shop in my city that has a current account with Canara Bank. The bank provided them with an mSwipe swiping machine at no cost. They paid nothing for the machine, no deposit, initial amount, rental, or installation charges.

They also have zero MDR for credit card payments. How it's possible? if the MDR is zero, who is covering the cost of our rewards?

Why is the bank offering these machines to large merchants instead of small ones? Large merchants typically don't worry about rentals, MDR, or device installation fees, yet they receive these benefits for free.

View attachment 54025

There that amex. Special privilege for the "rich".🤣