UPI MDR Above ₹2,000 Won’t Be Passed To Customers, Says Nirmala Sitharaman
Finance Minister Nirmala Sitharaman has clarified that the new Merchant Discount Rate (MDR) on specified UPI merchant payments above ₹2,000 will not be passed on to customers. She said the 0.4% MDR is a charge within the payment ecosystem, not a tax, cess or surcharge, and will be borne by merchants and other ecosystem participants. UPI transactions up to ₹2,000 and person-to-person payments will remain free.
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