UPI charges from Oct 15; Activate’s maiden fund
The NPCI has announced a merchant discount rate (MDR) of 0.4% for Unified Payments Interface (UPI) transactions above Rs 2,000, effective from October 15. Consumers will not pay the MDR, while person-to-merchant payments remain free regardless of transaction value. Railway, telecom, insurance, and fuel payments above Rs 2,000 will attract a flat Rs 5 MDR. Capital market transactions will have a 0.02% MDR capped at Rs 300.
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