product · 13 records
Unified Payments Interface
UPI charges row: Chidambaram among 5 Congress MPs who had backed revenue framework
A parliamentary Standing Committee on Finance report, which included Congress MPs, recommended implementing a revenue framework for UPI transactions to ensure ecosystem sustainability.
India bans merchants from passing UPI MDR charges to consumers
The Indian government clarified that merchants will not be allowed to pass the new UPI Merchant Discount Rate to customers when it goes into effect on October 15.
Will UPI transaction fees burden the public?
The introduction of a 0.4% fee for digital merchant transactions exceeding 2,000 rupees starting October 15 has generated public discussion regarding potential impacts on consumers.
G. Parameshwara criticizes UPI fees as a setback for digital payments
Karnataka Deputy Chief Minister G. Parameshwara criticizes the introduction of fees for UPI payments, expressing concern over potential cost burdens on consumers.
Petition filed in Supreme Court to cancel charges on UPI payments
A petition has been filed in the Supreme Court to cancel the government's decision to impose a 0.4% Merchant Discount Rate (MDR) on UPI transactions exceeding ₹2,000.
PhonePe CEO clarifies UPI MDR charges and impact
PhonePe CEO Sameer Nigam clarifies the upcoming Merchant Discount Rate (MDR) charges for UPI transactions effective October 15, 2026.
Zero-MDR gave banks no return on UPI merchant onboarding costs
The Indian government is implementing a new merchant discount rate framework for UPI transactions to support ecosystem sustainability while exempting small transactions.
UPI transaction fee introduced for business payments above 2,000 rupees
The Indian government announced a 0.4% transaction fee on UPI payments exceeding 2,000 rupees for businesses starting October 15.
UPI MDR vs Bank Charges: Understanding the ₹2,000 Rule
Starting October 15, 2026, a Merchant Discount Rate (MDR) may be applied to certain UPI merchant payments exceeding ₹2,000.
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.
Very positive step: PhonePe, MobiKwik co-founders welcome UPI MDR charges
Industry leaders at PhonePe and MobiKwik support the government's introduction of a 0.4% Merchant Discount Rate on large UPI merchant transactions.
UPI still free, but there's a catch: Who ultimately pays
New UPI regulations introduce a 0.4% merchant discount rate for certain transactions exceeding two thousand rupees.
J&K CM Omar Abdullah backs Centre on UPI charges
Chief Minister Omar Abdullah supported the Indian government's decision to introduce fees for UPI transactions while advocating for protections for retail consumers.