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UPI Payments Above ₹2,000 May Attract Fee As Government Considers Merchant Charge Framework
The government of India is currently evaluating a new fee structure for specific UPI transactions, which may include a Merchant Discount Rate for payments exceeding two thousand rupees. This initiative is targeted solely at merchant transactions rather than personal fund transfers, aiming to establish a viable revenue model for payment infrastructure providers. Further discussions with industry stakeholders will guide the final decisions on this matter.
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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.
