Government likely to introduce 0.3% MDR on UPI payments
- A merchant discount rate of 0.3% on UPI transactions above Rs 2,000 is expected within two weeks, sources said.
- The Department of Financial Services will issue a gazette notification within a week before NPCI sets the MDR structure.
- The government has assured UPI will stay free for consumers, with 0.3% lower than the 1-3% charged on credit cards.
- UPI processed 241.62 billion transactions worth Rs 314.23 lakh crore in FY26, prompting industry calls for MDR.
Source: financialexpress.com
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