Indian Government Clarifies UPI Transactions to Remain Free for Consumers
The Indian government has clarified that Unified Payments Interface (UPI) transactions will remain free for consumers, with only a nominal fee potentially applied to limited merchant transactions. This statement aims to reassure users that person-to-person UPI transactions will incur no charges.
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Proposed MDR for UPI transactions will be nominal, says government
The government has pledged that the upcoming UPI merchant discount rate will be minimal. This fee will be applicable only to certain merchants and transactions that surpass a designated threshold. Importantly, person-to-person UPI payments will remain free for all users. This initiative is designed to enhance the sustainability of India’s digital payment ecosystem and facilitate service expansion into rural and semi-urban regions.
By TNN
Read full article →UPI free for citizens, merchants may face ‘nominal’ fee: Government
By Siddharth Upasani
Read full article →UPI transactions to remain free, nominal charges may apply on limited merchant transactions, govt clarifies
Consumers making payments via UPI will not face any transaction charges, government clarifies
Read full article →UPI To Remain Free For Consumers, Merchants May Face Small Fee: Centre
The government has opened the door to introducing a nominal Merchant Discount Rate (MDR) on a limited set of UPI merchant transactions above a certain threshold, while assuring that consumers and person-to-person payments will continue to remain free.
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