Payment bill rekindles MDR hopes for large-value UPI
Synopsis ET was the first to report on July 16 that the government is considering reintroducing MDR for UPI transactions undertaken by large merchants. Sources
Synopsis ET was the first to report on July 16 that the government is considering reintroducing MDR for UPI transactions undertaken by large merchants. Sources had told ET that the Centre could set the fee at 5-7 basis points if it is reintroduced. MDR is the fee charged to merchants by banks for accepting digital payments through UPI, debit cards or credit cards. UPI transactions have been exempt from MDR since January 2020 after the government made them free to encourage digital payments.
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