Will you pay to use UPI? FM Sitharaman clears the air
Synopsis Finance Minister Nirmala Sitharaman stated Merchant Discount Rate applies to merchants, not customers. This charge will support banks and fintech companies in infrastructure investment
Synopsis Finance Minister Nirmala Sitharaman stated Merchant Discount Rate applies to merchants, not customers. This charge will support banks and fintech companies in infrastructure investment.
A committee will decide on MDR after Parliament passes a taxation bill. The bill provides legal backing to modify the zero-MDR framework for digital payments.
This move aims to ensure UPI and RuPay card transactions remain financially sustainable.
The BriefWire