UPI transactions above Rs 2,000 may face merchant fee under proposed law change
The government has introduced amendments to the Payment and Settlement Systems Act, paving the way for Merchant Discount Rate (MDR) on UPI payments. No final decision has been taken yet.
The government has moved a step closer to reintroducing Merchant Discount Rate (MDR) on Unified Payments Interface (UPI) transactions by introducing amendments to the Payment and Settlement Systems Act in Parliament, according to a Reuters report.
