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MDR on UPI payments above Rs 2,000 will not be passed on to consumers: Govt sources
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The proposed 0.4% merchant fee on UPI transactions above Rs 2,000 will not be passed on to consumers, government sources said on Thursday.Effective October 15, a 0.4% merchant discount rate will be levied on merchants for UPI transactions over Rs 2,000. However, no charge will be levied on person-to-person transactions regardless of the amount.Dismissing criticism by Opposition parties, including the Congress, that it is a tax on consumers, government sources said that not a "single penny" from
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