UPI payments above Rs 2,000 may no longer remain free
NEW DELHI: UPI transactions above Rs 2,000 may not remain free, with the government on Monday directing banks and payment service providers not to charge customers for transactions made through RuPay debit cards or UPI for up to Rs 2,000.
The move provides a statutory basis for keeping these digital payment modes free for users within the specified limit.
This means that UPI transactions above Rs 2,000 could attract a Merchant Discount Rate (MDR) or a fee that the banks and payment gateways charge from the merchant for processing the payment.
