The statement comes two days after the Lok Sabha passed a Bill to amend the Payment and Settlement Systems Act, 2007, which authorises the government to permit banks and other service providers to levy charges on payments through UPI and other notified electronic payment modes.

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…

Lok Sabha approves Bill allowing banks to charge fees on UPI transactions while promoting domestic electronic manufacturing.

UPI remains free for now. So why is everyone talking about MDR? Here's what the government's proposed amendment actually changes, whether you'll have to pay for UPI in the future,…

The Payments Council of India clarified UPI transactions will remain free for consumers. Small merchants, including kirana stores, will also not face charges for digital payments.…

The government’s move to lift the legal restriction on banks and platforms from imposing a charge or merchant discount rate (MDR) on UPI transactions, hitherto free, has generated…

Consumers will not face any charges for UPI payments. Most merchant transactions will also remain free of cost. Any future charges will apply to limited merchant transactions…