Supriya Shrinate Targets Centre Over 0.4% UPI MDR, Alleges US Firms Benefit
Congress leader Supriya Shrinate has criticised the Centre over the new 0.4% Merchant Discount Rate (MDR) on specified UPI merchant transactions above ₹2,000, alleging that the move could benefit US-linked payment companies. The government, however, has said MDR is not a tax, will be paid within the merchant payment ecosystem, and that customers will not be charged. Person-to-person UPI payments and around 96% of merchant transactions will remain unaffected.
