The Lok Sabha approved amendments to the Payment and Settlement Systems Act. This change empowers the government to permit charges on digital payment transactions. Currently, UPI transactions remain free for users and merchants. Banks and payment firms seek sustainable revenue models for infrastructure. The government will decide which digital payment methods may attract future charges.

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…

ET was the first to report on July 16 that the government is considering reintroducing MDR for UPI transactions undertaken by large merchants. Sources had told ET that the Centre…

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…

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

Discover whether UPI will become chargeable amid recent legislative changes and expert insights on potential impacts.

The current zero-MDR regime puts pressure on govt finances and limits the ecosystem’s ability to invest in long-term infrastructure