product · 5 records
RuPay
Government plans to monitor merchants to prevent UPI fee burden on consumers
The Indian government is implementing a monitoring system to ensure merchants do not pass the new 0.4 percent Merchant Discount Rate (MDR) for UPI transactions over ₹2,000 on to consumers.
No US pressure behind UPI transaction fee introduction says Finance Ministry
The Union Finance Ministry clarified that there was no US pressure behind introducing a 0.4% Merchant Discount Rate on select UPI transactions.
Finance Ministry rejects US influence allegations regarding new UPI MDR policy
The Indian Finance Ministry denied that US pressure influenced new UPI Merchant Discount Rate policies, asserting they are designed to support domestic competition and RuPay.
Government rejects claims of American pressure over UPI MDR fees
The Indian Finance Ministry denies that pressure from American credit card companies influenced the decision to impose a Merchant Discount Rate (MDR) on UPI transactions.
First legal challenge against UPI MDR filed in Supreme Court
A lawyer has filed a Supreme Court petition challenging the Indian government's new Merchant Discount Rate (MDR) for UPI transactions over ₹2,000.