Government monitors merchants for improper UPI fee charges from October 15
Headline by Prism · from 1 report
The Indian government is implementing a new system to monitor and penalize merchants who attempt to pass on the 0.4% MDR fee for UPI transactions over 2,000 rupees to customers starting October 15.
1 of 32 monitored outlets · 1 report · Marathi · checked
Maharashtra TimesThe brief
Written by software from the 1 report below.
- Starting October 15, merchants in India will be liable for a 0.4% Merchant Discount Rate (MDR) fee on UPI transactions exceeding 2,000 rupees.
- The central government mandates that this financial burden must be borne solely by the merchants.
- A dedicated monitoring system is being established to detect if any merchant attempts to pass this cost onto consumers.
- Strict actions will be taken against those found charging customers for these transactions.
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Indian-language1
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NamedIndia · Central Government
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