The finance ministry has categorically ruled out any UPI charges for consumers, saying person-to-person payments will remain free and small merchants will be protected. The clarification on August 8 came after the…
The government clarified on Saturday that UPI transactions will remain free for users, with no charges on person-to-person payments. It said the overwhelming majority of merchant transactions will also be free. Any…
The Payments Council of India has assured that UPI will remain free for consumers and small merchants such as kirana stores, countering speculation triggered by a parliamentary amendment. The Payment and Settlement…
RBI Governor Sanjay Malhotra called discussions on Merchant Discount Rate (MDR) for digital payments premature, urging stakeholders to wait and watch. He said investment in public payment infrastructure requires someone to pay,…
Consumers and small merchants will not have to pay any charge for using UPI, the Payments Council of India has said. The clarification came after the Lok Sabha passed a Bill amending…
लोकसभा द्वारा भुगतान और निपटान प्रणाली अधिनियम 2007 में संशोधन विधेयक पारित किए जाने के बाद UPI लेनदेन पर मर्चेंट डिस्काउंट रेट (MDR) लगाने की चर्चा तेज हो गई है। आर्थिक थिंक…
The Lok Sabha on Thursday passed a Bill amending the Payment and Settlement Systems Act, 2007, giving the government power to permit banks and payment providers to levy charges on UPI and…
The government has tabled a bill in the Lok Sabha to amend the Payment and Settlement Systems Act, 2007, removing the blanket ban on merchant discount rate (MDR) for UPI transactions. Finance…
Finance Minister Nirmala Sitharaman said any Merchant Discount Rate on UPI would apply to merchants, not customers. She added that no final decision has been taken. The proposed legal change would allow…
Finance Minister Nirmala Sitharaman said merchant discount rate, if introduced for UPI payments, would apply to merchants and not customers. She also said no final decision has been taken. The Lok Sabha…
