Big change in UPI policy? Payments above ₹2,000 may carry a fee. What we know
The Indian government proposed amendments to the Payment and Settlement Systems Act, potentially allowing a Merchant Discount Rate (MDR) on UPI transactions above ₹2,000. Currently, UPI transactions are free, but the amendments would enable the government to introduce fees, possibly below 0.5%. This change could impact digital payment costs for consumers and merchants alike.