SarkariPYQ

SSC CGL 2020 PYQ — Question 44

SSC CGL - 6th March 2020 Shift 1 • General Awareness • Q44

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Merchant discount rate refers to ______

Show answer & explanation

Correct answer: C

Explanation

The correct answer is option 3 i.e the rate charged to a merchant for payment processing services on debit and credit card transactions.

  • The merchant discount rate is the rate charged to a merchant for payment processing services on debit and credit card transactions.
  • The merchant must set up this service and agree to the rate before accepting debit and credit cards as payment.