UPI Payments to Businesses Above Rs 2,000 May Soon Attract Small Fee
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·1 viewsThe Indian government is considering introducing a Merchant Discount Rate (MDR) of 0.25% to 0.4% on UPI transactions exceeding Rs 2,000 made to merchants. The proposed charge would apply only to business payments and is not expected to cover person-to-person transfers. Everyday purchases such as groceries, milk, vegetables, and auto or taxi fares are likely to be exempt from the levy. The move, if implemented, would mark a significant policy shift for UPI, which has so far been free for all users.
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