UPI MDR row: Proposed 0.4% fee above Rs 2,000 won’t reach consumers, govt says

The proposed merchant fee of 0.4 per cent on UPI transactions above Rs 2,000 will not be passed on to consumers, government sources said on Thursday.

The sources said not a “single penny” from the proposed MDR will go to the government coffers.

The amount will be shared among banks and other entities in the UPI ecosystem, they added.