'New UPI merchant fees won't affect transaction volumes', says RBI Governor
- RBI Governor Sanjay Malhotra stated new merchant fees will not impact UPI digital payment volumes.
- Starting October 15, a 0.4 percent merchant discount rate applies to select transactions above ₹2,000.
- Free peer-to-peer transfers and 96 percent of merchant transactions remain completely unaffected by charges.
- Essential services like fuel, railways, and telecom will attract a reduced flat MDR of ₹5 per transaction.
Source: telanganatoday.com
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