In a step closer to possibly introducing Merchant Discount Rate (MDR) on UPI transactions, the Lok Sabha on Thursday approved a Bill amending the Payment and Settlement Systems Act, 2007.

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…

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…

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

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…

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