New Delhi, Aug 7 (PTI) Consumers and small merchants will continue to enjoy free Unified Payments Interface (UPI) services even as the Lok Sabha passed a Bill to amend the Payment and Settlement Systems Act, 2007, the Payments Council of India said on Friday. The statement comes a day after the Lok Sabha passed a […]

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

The bill seeks to remove the provision that prevents banks and payment service providers from charging a fee, including MDR, on notified electronic payments. | India News

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

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…