The End Of Free UPI, Fibe IPO Gets SEBI Nod & More
UPI Gets MDR Makeover After a decade of free UPI payments, NPCI will now impose an MDR for select high-value…
UPI Now Has Transaction Fee: The Unified Payments Interface (UPI) system that has served India with free transactions for a decade is set to see a monetary transformation from October 15. The National Payments Corporation of India (NPCI), the body operating UPI, will impose a Merchant Discount Rate (MDR) for high-value transactions.
Specifically, payments exceeding ₹2,000 will now attract an MDR of 0.4%, capped at ₹300 for transactions above ₹75,000. This change targets UPI’s infrastructure costs, aiming to create a revenue stream while preserving the system’s inclusivity.
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