UPI MDR a welcome move, will help support infra for growing digital payments: Mohandas Pai

The central government’s decision regarding MDR and UPI is a welcome move that will help fund the infrastructure needed to support rapidly growing digital payment volumes, former Chief Financial Officer and Board Member of Infosys Mohandas Pai has said, noting that nearly 96% of UPI transactions would remain unaffected.

Speaking with on the sidelines of International Tax Conference, Pai noted that around 70% of UPI payments are Person-to-Person (P2P) transactions, which remain free, while transactions below Rs 2,000 are also exempt from MDR.