Tag: MDR charges
Posted in Economy
Ministry of Finnace to engage with banks and traders to allay Merchant Discount Rate concerns
New Delhi: The finance ministry will reach out to the Indian Banks Association (IBA) to ensure Merchant Discount Rate (MDR) charges are not passed on…
Posted in Economy
FM Nirmala Sitharaman clarifies UPI MDR charges won’t affect consumers, hits out at opposition over misinformation
Union Finance Minister Nirmala Sitharaman on Monday said Merchant Discount Rate (MDR) charges on Unified Payments Interface (UPI) transactions will not be passed on to…
Posted in Business
Fuel pump transactions, bill and insurance payments, and more: UPI FAQs as MDR kicks in
The new UPI framework has kicked in, bringing changes to how certain merchant transactions are charged. But while the framework introduces a 0.4% merchant discount…
Posted in Economy
Merchant fee on UPI rolling out as transaction floor set at Rs 2,000
New Delhi: India on Monday exempted transactions of up to ₹2,000 through Unified Payments Interface and all RuPay debit card payments from any charges imposed…