Nirmala Sitharaman clarified that there will be no Merchant Discount Rate (MDR) charged by the government on UPI transactions. She reassured consumers that for transactions over Rs 2,000, the MDR will be covered by merchants and banks. According to NPCI’s Dilip Asbe, a significant 75 percent of UPI transactions remain unaffected by MDR. Most fees originate from larger businesses that incur higher credit card charges.
Read more at the source
Disclaimer: The content of this post is sourced from external sites and is for informational purposes only. All rights and credits belong to the original authors and publishers.