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Government moves closer to restoring MDR on UPI merchant payments
Parliamentary amendments propose restoring merchant discount rates on UPI payments. This move aims to encourage digital transactions by allowing banks to charge fees. The Reserve Bank of India will determine these charges on person-to-merchant payments. Payment platforms could see significant revenue generation from these new charges. This development follows UPI companies' struggles to build profitable payment businesses.
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economictimes.indiatimes.com
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…
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thehindubusinessline.com
Centre moves to reimpose MDR on UPI, extend tax breaks for contract manufacturers
The government proposes a new UPI MDR framework for large merchants and extends tax incentives for electronics manufacturing until 2041.
