SynopsisET was the first to report on July 16 that the government could reintroduce MDR on UPI transactions for large merchants. This has been an issue plaguing the online payments industry. Sources had told us that the Centre is likely to peg the MDR at 5-7 basis points if it is reintroduced.The government will move amendments to the IT Act to make way for the levy of the merchant discount rate (MDR) on Unified Payments Interface (UPI) transactions.ET was the first to report on July 16 that the government could reintroduce MDR on UPI transactions for large merchants. This has been an issue plaguing the online payments industry. Sources had told us that the Centre is likely to peg the MDR at 5-7 basis points if it is reintroduced.Now Playing
Govt to move amendments to IT Act to pave way for levy of MDR - The Economic Times
ET was the first to report on July 16 that the government could reintroduce MDR on UPI transactions for large merchants. This has been an issue plaguing the online payments industry. Sources had told us that the Centre is likely to peg the MDR at 5-7 basis points if it is reintroduced.
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