Tag: merchant discount rate
UPI transactions above Rs 2,000 to attract 0.4% MDR; check key details
The government will introduce a Merchant Discount Rate (MDR) on select Person-to-Merchant (P2M) UPI transactions from October 15, with merchants paying 0.4% on transactions above…
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…
UPI to remain free for users; nominal MDR may apply to select merchant transactions
The government on Saturday said consumers making payments through UPI will not face any transaction charges, while any future merchant discount rate (MDR) will apply…
Lok Sabha passes Bill enabling Centre to allow UPI charges, MDR on digital payments
The Lok Sabha on Thursday passed amendments to the Payment and Settlement Systems (PSS) Act, 2007, paving the way for the Centre to allow banks…
India’s UPI miracle has a money problem; can Budget 2026 fix it?
As Budget 2026 draws closer, Nirmala Sitharaman & Co faces a clear choice: fix the cracks in the UPI ecosystem now, or allow the momentum…