Tag: UPI Transactions
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…
‘Everything on record’: Parliamentary Finance panel chief defends unanimous Standing Committee report amid UPI MDR row
New Delhi [India]: Parliamentary Standing Committee on Finance chairman and BJP MP Bhartruhari Mahtab on Saturday defended the committee’s report on the Demands for Grants…
MDR on UPI transactions faces PIL in Supreme Court
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%…
NITI Aayog VC defends UPI merchant fee, says businesses must be self-sustainable
NITI Aayog Vice Chairman Ashok Kumar Lahiri on Wednesday defended the government’s decision to impose a merchant discount rate (MDR) on UPI transactions, saying businesses…
Petition in Supreme Court says scrap new UPI merchant fees; may burden consumers
A petition was filed in the Supreme Court on Wednesday, challenging the Centre’s newly notified framework allowing Merchant Discount Rate (MDR) on specified high-value commercial…
Finance Ministry rejects foreign influence claims over UPI MDR, says India’s digital payments decisions are made independently
The finance ministry on Wednesday rejected claims that foreign pressure influenced the decision to impose a 0.4% Merchant Discount Rate (MDR) on UPI 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…
Banks cannot impose charges on UPI payments of up to Rs 2,000, govt says
The Central government on Monday announced that banks cannot impose any charges on Unified Payments Interface (UPI) transactions of upto Rs 2,000 or debit card…
Vulcan understands the language of money: Harshil Mathur on Razorpay’s AI push
Even as India’s digital payments infrastructure handles close to 23 billion UPI transactions and around 590 million credit card payments every month, Indian payments company…
Payments bill revives hopes of MDR return on large-ticket UPI transactions
The government’s proposed amendments to the Payment and Settlement Systems Act have revived hopes of the return of merchant discount rate (MDR) on select UPI…