Supreme Court refuses to stay UPI charges on payments above Rs 2,000
The Supreme Court on Monday declined to put an interim stay on the government's decision to levy a merchant discount rate (MDR) on UPI payments above Rs 2,000. A bench led by…
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Traders in Maharashtra, MP call for No UPI Day on October 2
Traders across Maharashtra will observe 'No UPI Day' on October 2, Gandhi Jayanti, protesting the government's decision to impose a 0.4% Merchant Discount Rate (MDR) on UPI transactions above Rs 2,000. The…
Only 10% of UPI value may face consumer charges, says NPCI chief
National Payments Corporation of India (NPCI) managing director and CEO Dilip Asbe has said that only about 10% of the total value of UPI transactions carries the risk of charges being passed…
UPI merchant fee of 0.4% on payments over Rs 2,000 from October 15
The government will introduce a Merchant Discount Rate (MDR) of 0.4% on UPI payments above Rs 2,000 from October 15. Individual users will not pay the fee, only merchants will. The fee…
NPCI CEO says only 10% of UPI value faces MDR pass-through risk
NPCI CEO Dilip Asbe has said only 10% of UPI transaction value comes from merchants that do not yet accept credit cards, the segment that may face consumer pass-through risk under the…
MP petrol pumps to stop UPI over Rs 2,000 from October 16
Petrol pump dealers in Madhya Pradesh will stop accepting UPI payments above Rs 2,000 from October 16, protesting the new merchant discount rate (MDR) that applies to larger transactions. The Madhya Pradesh…
Congress MPs backed UPI fee framework, Centre says
Five Congress MPs, including former finance minister P Chidambaram, were present when the Parliamentary Standing Committee on Finance approved a report recommending a tiered revenue mechanism for UPI on August 12, with…
UPI fee on payments above Rs 2,000 from October 15
The government will levy a 0.4% merchant discount rate (MDR) on UPI person-to-merchant transactions above Rs 2,000 from October 15, ending six years of a zero-fee network for merchants. Person-to-person transfers and…
Centre denies foreign influence on UPI charges, rejects rethink
The finance ministry has denied opposition claims that foreign pressure led to the decision to impose a 0.4 per cent Merchant Discount Rate on UPI transactions above Rs 2,000 from October 15.…
Niti VC defends UPI fee, Congress calls it Modi Tax
The government has introduced a 0.4% Merchant Discount Rate (MDR) on UPI person-to-merchant payments above Rs 2,000, effective October 15. NITI Aayog vice chairman Ashok Kumar Lahiri defended the move, saying businesses…
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