‘No rethink’ on 0.4% fee for UPI payments above Rs 2,000: Report
The Indian government confirmed there will be no rollback of the 0.4% Merchant Discount Rate (MDR) on Unified Payments Interface (UPI) transactions exceeding ₹2,000, effective October 15. This decision ends six years of free UPI payments and aims to enhance the ecosystem's safety and security. Stakeholders must adapt to this change in the payment landscape.