Times of IndiaLean R·
Will you have to pay to use UPI? FM Sitharaman clarifies who bears MDR
In a recent statement, Finance minister Nirmala Sitharaman emphasized that UPI transaction charges will be applicable to merchants rather than customers. She explained that any Merchant Discount Rate (MDR) imposed would be instrumental in enhancing the digital payment ecosystem. Following the passage of an amendment bill in Parliament, a committee will investigate the adjustments to the zero-MDR policy for digital payments.
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