The Confederation of All India Traders will support a nominal Merchant Discount Rate on higher-value UPI transactions. This support is contingent on the government's proposal and examination of the legislation's details. Praveen Khandelwal expressed confidence that digital payments will become more convenient for users. He noted that smaller transactions should remain protected from any new charges.

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…

The government proposes a new UPI MDR framework for large merchants and extends tax incentives for electronics manufacturing until 2041.

Proposed amendments to the Payment and Settlement Systems Act may bring back merchant discount rates. This move could help banks and fintech firms recover technology and…

Happy Tuesday! The government is proposing changes that could bring back merchant fees on select UPI transactions. This and more in todays ETtech Morning Dispatch.

India has laid the legal groundwork to reintroduce merchant fees on UPI payments through proposed amendments to the Payment and Settlement Systems Act. While no decision has been…

New bill proposes electronic payments outside the negative list will incur Merchant Discount Rate (MDR), including potential UPI charges.

Parliamentary amendments propose restoring merchant discount rates on UPI payments. This move aims to encourage digital transactions by allowing banks to charge fees. The…

MUMBAI: India's payment industry has long been calling for higher subsidies or a controlled introduction of merchant discount rate (MDR) to recover transaction costs. The decision…

Central bank governor Sanjay Malhotra stated it is premature to discuss UPI transaction charges. Discussions are ongoing regarding the payment mechanism's future and costs. The…