Thanks to the Unified Payments Interface (UPI), digital transactions have become extremely popular in India. Amid this, some reports claimed that the government is considering reintroducing the Merchant Discount Rate (MDR) on UPI transactions above Rs 3,000 to support banks and payment service providers. However, the Finance Ministry has clarified that speculation and claims that the MDR (merchant discount rate) will be charged on UPI transactions are false. It also said that the government is fully committed to promoting digital payment via UPI.
‘Completely false’: Finance ministry says no plan on imposing MDR on UPI payments – Details
