New Delhi: A PIL has been filed in the Supreme Court seeking quashing of the government’s move to levy a merchant discount rate of 0.4% on merchant payments made through the Unified Payments Interface (UPI) on transactions above ₹2,000 from October 15.
One advocate Anjan Datta, while making the Ministry of Finance, the Reserve Bank of India, National Payments Corp of India as parties in the case, submitted that the newly introduced charges would ultimately affect the citizens.
The imposition of merchant discount rate on commercial UPI transactions could have a wider impact on the public, as businesses may pass on the additional costs to the consumers, he said in his petition.