However, majority of our cash merchants will still have their 0% MDR subsidize due to the inclusion in our Go-eCommerce Onboarding Campaign which selected merchants will enjoy 0% MDR until 31 st December 2021.ĩ. This isn’t a few transaction fee, It was meant to be implemented on the 27 th of August 2020 but due to the covid pandemic, Boost decided to subsidize for some merchants beginning of 2021 and now decided to continue 1 st July 2021. MDR is implemented to not only vital day to day management of business cost and to assist in further improvement of product and services of the company to our Merchants. Can a merchant pass the MDR fee to customers or using Boost when making payment?Īs stipulated in our Boost Merchant Terms & Conditions available on our website, merchants may not charge Boost users any portion of the MDR fees for using Boost when making payments. MDR will be charged upon daily settlement and details will be listed out in the daily settlement report.ħ. How does Boost invoice MDR to my merchant account? MDR applies to the total gross payment transaction amount.Ħ. Is there a minimum settlement amount where MDR will apply? Boost merchants single & multiple outlets, with or without cashless payment terminals.ĥ.Boost merchants with cashless payment terminals.MDR first began charging on the 27 th August 2020. Please refer to the transaction charges here. The MDR is charged as a percentage of the transaction amount. MDR (otherwise known as Merchant Discount Rate) is a fee paid by a Merchant for accepting cashless payment from their customers via a digital payment platform like Boost. Any waiver of the fees is as per the contractual agreement between the merchant and Boost. Please refer to the charges and fees to sign up as a Boost Biz Merchant here.
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